The addition of rare earth metals to aluminum alloys can effectively improve their corrosion resistance and has been widely used in the aerospace and military industries. However, the current methods for the preparation of rare earth metals involve long processing steps, high energy consumption, and high carbon emissions, which severely constrains the development of aluminum alloys. Its output is further developed. To this end, this paper reviews mainstream rare earth production processes (precipitation methods, microemulsion methods, roasting-sulfuric acid leaching methods, electrochemical methods, solvent extraction methods, and ion exchange methods) to provide basic information for the green smelting of rare earth metals and help promote the development of green rare earth smelting. Based on the advantages and disadvantages of each process as well as recent research results, the optimal process parameters and production efficiency were summarized. Studies have concluded that the precipitation method is mostly used for the recovery of rare earth elements and related valuable metals from solid waste; the microemulsion method is mostly used for the preparation of nanosized rare earth alloys by doping; the roasting-sulfuric acid leaching method is mostly used for the treatment of raw rare earth ores; and the molten salt electrolysis method is a more specific method. This is a green and environmentally friendly production process. The results of this study can provide direction for the realization of green rare earth smelting and provide a reference for improving the existing rare earth smelting process.