Ni–MH spent batteries are heterogeneous and complex materials, so any kind of metallurgical recovery process needs a mechanical pre-treatment at least to separate irony materials and recyclable plastic materials (like ABS) respectively, in order to get additional profit from this saleable scrap, as well as minimize waste arising from the braking separation process. Pyrometallurgical processing is not suitable to treat Ni–MH batteries mainly because of Rare Earths losses in the slag. On the other hand, the hydrometallurgical method, that offers better opportunities in terms of recovery yield and higher purity of Ni, Co, and RE, requires several process steps as shown in technical literature. The main problems during leach liquor purification are the removal of elements such as Mn, Zn, Cd, dissolved during the leaching step, and the separation of Ni from Co. In the present work, the latter problem is overcome by co-deposition of a Ni-35÷40%w Co alloy of good quality. The experiments carried out in a laboratory scale pilot-plant show that a current efficiency higher than 91% can be reached in long duration electrowinning tests performed at 50 °C and 4.3 catholyte pH.