The invention discloses a solid waste/hazardous waste smelting formula using iron supplements. The formula comprises, by weight part, 50 to 100 parts of first formula used for brick making and 10 to 50 parts of second formula used for smelting; the first formula comprises 40 to 80 parts of solid waste/hazardous waste, 5 to 10 parts of iron powder and 5 to 10 parts of cobblestone, the second formula comprises 2 to 10 parts of limestone, 2 to 10 parts of ferroferric oxide, 3 to 6 parts of kaolinite, 2 to 5 parts of illite, 3 to 25 parts of copper matte slag and 2 to 15 parts of coke. The invention further provides a smelting method of the formula. The formula and the method have the beneficial effects that generation of coagulation of iron and copper can be reduced, blockage of a smelting furnace can be avoided, meanwhile, obtained copper matte is high in copper, and impurities are few; after brick making, through natural maintaining, a finished product brick can be smelted, in the natural maintaining process, the iron makes a sufficient reaction with air to generate more high iron, and the copper extraction rate can be improved; the added copper matte slag contains little metal copper and iron and other impurities, and the metal copper can be recycled.