Leaching of blended slag (BS) was investigated in a microwave oven using hydrogen peroxide and acetic acid. The BS was a mixture of converter and flash furnace slag containing 51% Fe2O3, 3.8% CuO, and 3.2% ZnO. The important variables that influence the metal extraction yield were leaching time, liquid-solid ratio, H2O2 and CH3COOH concentrations. The preferred leaching conditions were as follows: CH3COOH concentration 4 mol/L; H2O2 concentration 4 mol/L; microwave power 900 W; leaching time 30 min; liquid-solid ratio 25 mL/g BS; leaching temperature 100 °C. Under these conditions, the metal extractions of 95% Cu, 1.6% Fe, and 30% Zn were obtained. The results were compared with the traditional leaching results. It is evident that microwave heating causes a reduction in the leaching time. Also, the extraction yield results indicate that selective leaching of BS can be achieved under the preferred conditions. The dissolution kinetic of BS in hydrogen peroxide with acetic acid is controlled by a shrinking unreacted core model equation. The apparent activation energy and reaction order were found to be 16.64 kJ/mol and 1.09, respectively.