To date, the highest certified efficiency has reached 25.7% for laboratory‐scale perovskite solar cells (PSCs). Breakthroughs in the commercialization of PSCs is achieved continuously. Therefore, the recovery of decommissioned devices that are closely related to the commercialization is extremely urgent. More importantly, lead (Pb) and other materials in PSCs are ecotoxic and biotoxic. Due to improper disposal of the decommissioned devices, serious heavy metal Pb and solid waste pollution incidents may occur. In fact, PSCs contain a great deal of recyclable and valuable materials. To achieve the goal of sustainable PSCs, recycling and reusing these useful materials are advocated. In this review, the authors retrospect structures and key materials of PSCs briefly. Benefits of recycling useful materials from the decommissioned PSCs are analyzed in terms of environmental and economic profits, including reducing the material costs, saving energy, reducing negative environmental impacts and conserving natural resources. Research progresses on recycling and reusing the useful materials are summarized and discussed from the perspectives of feasible pathways, recovery solvents, recovery effects and performance analysis of the corresponding devices. Finally, current challenges and future opportunities to prevent Pb leakage and recycle PSCs in an environmentally viable manner are proposed toward sustainable development.