The invention discloses a method for extracting nickel, cobalt, iron, silicon and magnesium in limonite, and belongs to the field of metallurgy. The method comprises the following steps: washing, selecting and classifying the limonite to obtain a high-silicon-magnesium mine and a low-silicon-magnesium high-iron mine; adding high-silicon-magnesium mine pulp and enough concentrated sulfuric acid to a double-helix shoving reactor at the same time so as to dissolve most of soluble nonferrous metal and soluble iron; then, performing solid-liquid separation so as to obtain constant-pressure leached residues and constant-pressure leached liquor; adding the constant-pressure leached liquor and the low-silicon-magnesium high-iron mine pulp to a pressurized pipeline reactor in proportion to be pressurized and leached; performing the solid-liquid separation so as to obtain pressurized and leached residues and pressurized and leached liquor; then purifying pressurized and leached filtrate so as to obtain iron concentrate products. The method has the advantages of high leaching efficiency of the nickel and the cobalt, low consumption of sulphuric acid, short reaction time and high production efficiency; besides, middle and low pressure equipment is used for performing pressurized and leached operations, so that the defects that high-pressure kettle equipment is expensive and encrustment is easy to occur are overcome; the main component, the iron, in ores can be economically and effectively recovered and effectively utilized, and the number of waste residues is small.