Medical waste (MW) is all waste generated in healthcare institutions during the provision of healthcare services and conducting scientific research and experiments in the field of medicine, regardless of its composition and origin, i.e., a heterogeneous mixture of classic municipal waste and hazardous MW. Medical systems, including hospitals, clinical centers, and places where diagnosis and treatment are conducted, generate waste that is highly hazardous and puts people at risk of fatal diseases. In general, MW does not take up much of the environmental pollution, but its specific characteristics make it potentially one of the most dangerous types of waste. Inadequate care can affect the health of the medical workers, the population, and the surrounding areas in which the waste is stored, but it can also lead to outbreaks of global infection and poisoning. However, extra caution is required to avoid the risk of injury, cross-contamination, and infection; thus, healthcare workers and individuals responsible for waste management must follow the mandatory safety procedures. In this review, a classification of the various types and categories of MW and its treatment methods is discussed. Since MW can be contaminated and hazardous, it must be managed and processed using complex steps and procedures. The meaning of MW, the risks of exposure, MW management regulatory acts, MW management procedures, and control techniques are presented.