Proposed is a method of recovering valuable metal from scrap containing conductive oxide including the steps of using an insoluble electrode as either an anode or a cathode, using a scrap containing conductive oxide as the counter cathode or anode, performing electrolysis while periodically inverting the polarity, and recovering the scrap as hydroxide. With the foregoing method of recovering valuable metal from scrap containing conductive oxide, oxide system scrap is conductive oxide and a substance that can be reduced to metal or suboxide with hydrogen. This method enables the efficient recovery of valuable metal from sputtering target scrap containing conductive oxide or scrap such as mill ends of conductive oxide that arise during the production of such a sputtering target.