Lifting conveyor for automatic recovery of rail fasteners disassembled during railway overhaul. Fasteners are steel parts, and can be attracted by magnets. The machine is mainly composed of drive system, conveyor belt with corrugated rib, electromagnetic wheel, frame, roller, cover, conveyor catch wheel and electric control system. During railway overhaul, the engineering car lifts the conveyor heading along the rails. After the equipment is started, the drive system drives the conveyor belt to rotate, and the conveyor belt drives the outer drum of the electromagnetic wheel to rotate, forming a circular conveying system. After the electromagnetic wheel is powered on, a magnetic field will be generated in the working face. When the lifting conveyor passes through the railway stacked with fasteners, the fasteners will be captured by the electromagnetic wheel and attracted to the surface of the conveyor belt under the action of the magnetic field. The conveyor belt will transport the fasteners to the collection place to complete the automatic recovery of the fasteners.