Antibiotic residue is a hazardous waste which contains much protein; the extraction of protein from antibiotic residue using neutral protease is an effective utilization path of antibiotic residue. In this work, an immobilized magnetic neutral protease (IMNP) was successfully prepared by immobilizing free neutral protease on the surface of magnetic carrier, and characterized by a series of analysis methods (SEM, BET, FTIR, TGA, XRD, and VSM). IMNP can retain > 90 % enzyme activity of free neutral protease and extract ∼36 % protein from streptomycin residue within 4 h at the optimal extraction condition (water content in antibiotic residue = 97.5 %, IMNP loading = 5 %, pH = 7.0, and extraction temperature = 50 ℃). The loss of neutral protease from the surface of IMNP and the possible poisoning of IMNP caused by the toxic substances in the streptomycin residue significantly affected the relative enzyme activity of IMNP (29.4 % enzyme activity of IMNP lost after 6th use). IMNP showed better storage performance, pH and thermal tolerance performance than those of free neutral protease.