Activated carbon modified with Cu2+ and Co2+ was used to remove PH3 and H2S from yellow phosphorus off-gas. An orthogonal experiment was carried out to identify the superiority order of influencing factors and the optimal experimental parameters. For PH3, the superiority order was temperature > oxygen content > parch temperature > impregnant concentration (Cu2+) > flow rate > diameter, whereas, for H2S, it was reaction temperature > oxygen content > impregnant concentration > parch temperature > diameter > flow rate. Following were the optimal experimental parameters for both PH3 and H2S: reaction temperature, 95°C; impregnant concentration (Cu2+), 0.25 mol/L; diameter of metallic modified activated carbon (MMAC), 3.5 mm; oxygen content, 1%; parch temperature, 300°C; and flow rate, 0.4 L/min. Regeneration of MMAC was effective for PH3 but not compelling for H2S. The activation energy and reaction orders were calculated, and the transmission process was evaluated to assess the characteristics of the dynamics of the adsorb-catalytic reaction. The reaction orders were -0.8 and -0.76 for PH3 and H2S and the average activation energies were 1247.6 and 134.4 J/mol for PH3 and H2S, respectively. The adsorb-catalytic reaction was fast, and decreasing transmission resistance can play a key role in improving the performance of MMAC.