N,N,N′,N′-Tetraoctyl diglycolamide (TODGA), as a new extraction agent, is effective for its excellent performance and low environmental hazard, and it is very welcome for the rare earth separation process. In this paper, by controlling the extraction time, diluent type, acid type and its concentration, rare earth concentration, etc., the optimum extraction and back-extraction effects of TODGA on La(III), Ce(III), Pr(III), and Nd(III) and mixed rare earths were obtained. The experiment showed that 0.10 mol·L−1 TODGA had the best extraction effect on single rare earth under the conditions of using petroleum ether as diluent, 5 mol·L−1 nitric acid, 20 min extraction time, and 0.01 mol·L−1 rare earth. In the mixed rare earth extraction, the percentage concentrations of La(III), Ce(III), Pr(III), and Nd(III) could be achieved from 21.7%, 19.9%, 30.8%, and 22.2% at the initial stage to 90.5%, 37%, 51%, and 62% after extraction, respectively, by controlling the number of back-extraction cycles and the concentrations of hydrochloric acid and nitric acid in the back-extraction system. The TODGA–rare earth carrier system showed the best back-extraction effect when the hydrochloric acid concentration was 1 mol·L−1 and the back-extraction time was 20 min. At the same time, the mixed rare earth liquid system with low initial concentration was selected for extraction and separation of mixed rare earth. The separation effect was better, and the recovery rate was higher than that of mixed rare earth liquid system with a high initial concentration.