Glycolysis of poly(ethylene terephthalate) (PET) is a prospective way for degradation of PET to its monomer bis(hydroxyethyl) terephthalate (BHET), providing the possibility for a permanent loop recycling. However, most reported glycolysis catalysts are homogeneous, making the catalyst difficult to recover and contaminating the products. Herein, we reported on the Pd-Cu/γ-Al2O3 catalyst and applied it in the glycolysis of PET as catalyst. The formed structure gave Pd-Cu/γ-Al2O3 a high active surface area, which enabled these micro-particles to work more efficiently. The PET conversion and BHET yield reached 99% and 86%, respectively, in the presence of 5 wt% of Pd-Cu/γ-Al2O3 catalyst within 80 min at 160 °C. After the reaction, the catalyst can be quickly separated by filtration, so it can be easily reused without significant loss of reactivity at least five times. Therefore, the Pd-Cu/γ-Al2O3 catalyst may contribute to an economically and environmentally improved large-scale recycling of PET fiber waste.