Cu-Ag-Sb-Au alloy produced from lead anode slime reduction smelting through twice vacuum distillation is a high value-added precious metal resource. Currently, using pyrometallurgical process, the antimony and copper elements can be removed respectively by multistage oxidation refining, and then the precious metals are recycled by electrolytic refining. This process has a number of shortcomings such as high energy consumption, high pollution and low direct yield. In this study, a highly efficient new process for extracting precious metals from Cu-Ag-Sb-Au alloy by one-step bimetallic potential-controlled electrolysis is proposed. The electrolytic process of Cu-Ag-Sb alloy is studied by linear scanning voltammetry and electrochemical impedance spectroscopy, and the experimental verification is carried out under the guidance of Cu-Ag-Sb alloy experiments. The results show that gold and silver are enriched in the electrolytic anode slime, while copper and antimony are reduced and deposited on the cathode, which realizes the efficient separation of gold and silver from copper and antimony. The direct yield of precious metals and the anode treatment rate are as high as 99.97 % and 16.02 kg/day·A·m2, respectively, but the energy consumption is 453.90 kW·h/t only. This process strongly supports the treatment of Cu-Ag-Sb-Au alloy with low cost and high efficiency. At the same time, in combination with the vacuum distillation process, the oxidation refining is successfully removed from the lead and copper smelting system, thereby achieving efficient recovery and effective reuse of the precious metals.