Bayer red mud is a strong alkaline solid waste discharged during alumina production. Due to large emissions and strong alkalinity, red mud is now mostly dammed or buried, which not only occupies huge land but also contaminates the surrounding ecosystem, causing the risk of collapse and landslide. In addition to its overall utilization in building materials, agriculture, the environment, and the chemical industry, red mud also contains valuable metals such as sodium, aluminum, iron, titanium, and scandium and is considered to be an important secondary resource. In this paper, the physicochemical properties and hazards of red mud are rst introduced, and then the overall utilization of red mud is summarized. Then, the latest research progress on the separation and extraction of valuable metals from red mud is reviewed in detail, and a new comprehensive utilization method is proposed and analyzed. This paper also provides suggestions for the future development direction of the comprehensive utilization technology of red mud.