To provide a method for separating a composite material which can be separated as a fiber and a resin constituting the composite material in such a way that the fiber and the resin can be reused, and the fiber and the resin separated by this method and a molded product using the fiber and the resin.

The separating device 1 shreds a tarpaulin 2 as a composite material into a shred 11 using a shredder 10 (a shredding step is performed) as a shredding means and the shred 11 is ground into grinds with the help of a screening mill 20 (a grinding/separating step is performed) as a grinding means. Further, the grinds 12 are separated into the fiber A of a fibrous layer and the fiber A of a resin layer which constitute the tarpaulin 2, using a static separator 40 (a fiber removing step is performed) as a selecting means. In this case, a conveyor 50 is arranged between the shredder 10 and the screening mill 20 to convey the shreds 11 and an air blower 51 is arranged between the screening mill 20 and a wind separator 40 to convey the grinds 12.