This study presents a viable approach for recovery of valuable metals from waste printed circuit boards (WPCB) via iodine-iodide leaching and precipitation. Under optimal conditions, the vast majority (> 94.0 %) of gold dissolved from WPCB in the solution, while dissolution efficiencies of other precious metals (Ag, Pd, Pt) and base metals were not exceed 1.0 % and 14 %, respectively. Impurity metals (Cu, Al, Pb, Zn, Fe, Ni) in the solution were firstly removed by precipitation with NaOH between pH 8.4 and 9.3. Then a 0.1 M ascorbic acid solution was added to solution, which contains mainly precious metals and some base metals (K, Ca and Sr), resulting from NaOH precipitation until the pH reached 2.4. As a result, about 99.9 % Au, 65.4 % Ag, 57.9 % Pd, 52.1 % Pt were recovered, when the precipitation efficiencies of K, Ca and Sr were less than 25.0 %, respectively.