Spent lithium-ion batteries (LIBs) are an essential secondary resource containing valuable metal elements. Transforming spent LIBs into efficient catalysts through a simple process presents a promising strategy to address both metal resource scarcity and clean energy challenges. Herein, a deep eutectic solvent-assisted synthesis of Co3O4 material from spent LIBs is proposed. The obtained Co3O4 material possesses efficient and stable electrocatalytic activity for converting raw polyethylene terephthalate (PET) bottles into high-purity formic acid and terephthalic acid products under ambient conditions. As expected, the Co3O4 catalyst exhibits a high FE of 92% with a concentration of produced potassium formate of 23.6 mM under alkaline conditions. This study presents a waste-treating-waste strategy for the simultaneous recovery of spent LIBs and PET waste in a greener manner.