Plastic waste causes severe environmental hazards, owing to inadequate disposal and limited recycling. Under the framework of circular economy, there are urgent demands to valorize plastic waste more safely and sustainably. Therefore, much scientific interest has been witnessed recently in plastic waste‐derived electrocatalysts for the oxygen reduction reaction (ORR), where the plastic waste acts as a cost‐effective and easily available precursor for the carbon backbone. The ORR is not only a key efficiency indicator for fuel cells and metal–air batteries but also a major obstacle for their commercial realization. The applicability of the aforementioned electrochemical devices is limited, owing to sluggish ORR activity and expensive platinum‐group metal electrocatalysts. However, waste‐derived ORR electrocatalysts are emerging as a potential substitute that could be inexpensively fabricated upon the conversion of plastic waste into active materials containing earth‐abundant transition metals. In this Minireview, very recent research developments regarding plastic waste‐derived ORR electrocatalysts are critically summarized with a prime focus on the followed synthesis routes, physicochemical properties of the derived electrocatalysts, and their ultimate electrochemical performance. Finally, the prospects for the future development of plastic waste‐derived electrocatalysts are discussed.