Poly(vinyl chloride) undergoes dechlorination in the presence of triethylsilane (Et3SiH) and a catalytic amount of [Cp2Zr(NPh2)][CH3B(C6F5)3] (1b) at 40‐80 °C, with up to 91 % efficiency. Stoichiometric reactivity studies conducted on cyclohexyl chloride as a model suggest that 1b dechlorinates PVC by initial chloride abstraction, followed by hydride transfer to the cationic PVC chain from Et3SiH. Consumer items such as pipe fitting, vinyl disc or electric cable insulation undergo either dechlorination or hydrosilylation of the carbonyl‐containing copolymer (polyvinyl acetate) or plasticizer (phthalate).