Waste mobile phones contain significant amounts of valuable metals and non-metallic materials. Consequently, the extraction of valuable materials from discarded phones, which is a more cost-effective method compared with primary mining, is an essential step for maximizing the recovery of secondary resources and minimizing e-waste pollution. We designed a green and efficient path for recovering valuable metals from waste mobile phones and explored its technical feasibility from both environmental and economic perspectives through life cycle assessment and revenue expenditure model.The results showed that the hydrometallurgical process had three characteristics of high recovery efficiency, significant environmental friendliness and economic feasibility. The recovery efficiencies of valuable metals were higher than 90%. Simultaneously, the return on investment was 29%, indicating that the recycling enterprises can achieve self-sufficiency. Thirdly, the environmental benefits were more significant compared to environmental damage released by hydrometallurgical process, representing a significant environmental friendliness. Within the overall recycling process, the core process made the greatest contribution to the environmental burden (45.38–65.68%), followed by manual disassembly process. A comparison of sub-processes in core process revealed that the mechanical crushing and sorting phase had the greatest environmental impacts that were primarily attributed to power consumption. Consequently, future research should focus on the development of energy-efficient pretreatment techniques and energy-saving equipment. The industrial practice of recycling waste mobile phones is still in its infancy in China. Future studies should also focus on the comparing different treatment processes, with the aim of providing technical support for the advancement of industry.