Germanium is widely used in many fields, and the extraction of germanium is very important. The effects of initial sulfuric acid concentration, liquid to solid ratio etc. on the leaching rate of germanium and zinc was investigated in this research, by using germanium bearing Zinc Oxide as raw material and sulfuric acid as leaching agent. The occurrence state of germanium and main elements in leaching residue was studied by EPMA, XRD and chemical analyses. The results illuminate that the leaching rate of germanium and zinc was 91% and 88%, respectively, under the optimal conditions. Wurtzite was the main limiting factor for the leaching rate of zinc, the leaching rate of germanium was limited by insoluble germanium. Furthermore, it is found that some germanium coexisted with Galena in the leaching residue. These results may be helpful for further improving the leaching rate of germanium in germanium bearing Zinc Oxide.