BackgroundRecycling waste PET plastic can prolong its life cycle, reduce the consumption of non‐renewable resources, prevent plastic pollution, and also protect the ecological environment. Traditional chemical recycling of waste PET plastic can depolymerize PET into terephthalic acid (TPA) and ethylene glycol (EG).ResultsA novel strategy was proposed to directly depolymerize PET into TPA and glycollic acid, which shows significantly higher value than conventional EG. This is achieved over a carbon nanotube (CNT) supported AuCu catalyst (AuCu/CNT) prepared using an evaporative impregnation method. Comprehensive analyses of the catalyst were conducted using XRD, N2 adsorption/desorption, TEM, XPS, H2‐TPR and so on. It is found that Cu species in the AuCu/CNT catalyst mainly existed in the form of CuO, forming new reaction adsorption sites and providing active AuCu alloy sites, thereby improving the catalytic performance of AuCu/CNT. This results in simultaneously superior glycollic acid selectivity and ethylene glycol conversion over AuCu/CNT than the Au/CNT and Cu/CNT.ConclusionsThis study harbours high significance to hydrolysis of PET to prepare value‐added products.This article is protected by copyright. All rights reserved.