Objective The purpose is to study the application value of peritoneal dialysis (PD) and continuous blood purification (CBP) in chronic renal failure (CRF). Methods: 120 patients with CRF admitted to our hospital from February 2022 to February 2025 were selected as the research subjects. The research subjects were divided into the PD group and the CBP group according to the random number table method, with 60 cases in each group. The PD group was treated with PD, and the CBP group was treated with CBP. The renal function [creatinine (SCr), blood urea nitrogen (BUN)], inflammatory factors [tumor necrosis factor -α (TNF-α), interleukin-6 (IL-6), C-reactive protein (CRP)], serum lipoprotein a levels and the occurrence of adverse reactions were analyzed and compared between the two groups. Results: After treatment, the levels of BUN and SCr in both groups were significantly lower than those before treatment (P < 0.05). However, after the treatment, there were no significant differences in the levels of BUN and SCr between the two groups (P > 0.05). After treatment, the levels of TNF-α, IL-6 and CRP in both groups were significantly lower than those before treatment, and the levels of TNF-α, IL-6 and CRP in the PD group after treatment were significantly lower than those in the CBP group (P < 0.05). After treatment, the serum lipoprotein a levels in both groups were significantly increased compared with those before treatment, but the serum lipoprotein a level in the PD group after treatment was significantly lower than that in the CBP group (P < 0.05). The incidence of adverse reactions in the PD group was significantly lower than that in the CBP group (P < 0.05). Conclusion: Both PD and CBP applied in the treatment of CRF can improve the renal function of patients. However, compared with CBP, PD can significantly reduce the levels of inflammatory factors and blood lipids, and reduce the occurrence of adverse events such as cardiovascular diseases and infections.