Mitigating antibiotic pollution is essential to combating antibiotic resistance, safeguarding ecosystems, ensuring food and water safety, and preserving the efficacy of antibiotics. Simultaneously, the comprehensive utilization of red mud is a key approach to reducing resource waste and ecological damage. This study investigates the use of iron components from red mud to prepare RM-nZVI/Ni for Fenton-like reactions, aimed at degrading antibiotics in water. By leveraging the inherent iron content in red mud, RM-nZVI/Ni was developed to achieve a dual-purpose environmental strategy: antibiotic degradation and solid waste resource recycling. The results demonstrate that 0.02 g/L of sulfamethoxazole (SMX) can be fully degraded within 15 min using 0.1 g/L of RM-nZVI/Ni and 6 mM of H₂O₂. Hydroxyl radicals (·OH) and Ni were identified as key contributors to SMX removal. Moreover, this system exhibits universality in degrading common antibiotics such as LFX, NFX, CIP, and TC. LC-MS analysis and DFT theoretical calculations indicate that the degradation byproducts are of lower toxicity or are non-toxic. Additionally, cost analysis suggests that RM-nZVI/Ni is a cost-effective and efficient catalyst. This research gives valuable insights into antibiotic degradation using red mud-based catalysts and offers guidance for expanding the high-value applications of red mud.