Former peat extraction fields and currently employed peatlands are significant source of GHG emissions. Total area of degraded peatlands, which are not yet afforested or flooded is 39.5 kha and the net emissions, excluding peat produced for the horticulture applications, is 0.33 mill. tons CO2 eq. Large emissions means also significant mitigation potential; therefore, available knowledge on the GHG mitigation potential should be summarized to define research priorities and propose quantifiable measures. The aim of the study is to summarize literature and expert questionnaires based information on potentially valuable climate change mitigation measures applicable in degraded peatlands formerly used for peat extraction. The evaluation involves substantiation of the effect, criteria for site selection, addressed carbon pools and GHG emissions, methods for the effect assessment at local and national level, existing LPIS and other monitoring systems, duration of effect and supplementary measures to sustain the effect, estimation of cost and benefit ratio, existing support schemes, knowledge gaps to be filled, uncertainties and collaboration needed. The study proved that degraded peatlands can contribute significantly to the climate change targets, and this is identified by scientific community in multiple publications and research reports; however, quantitative assessment is missing in most of the cases. The most of the proved mitigation measures are associated with afforestation, which can be implemented in approximately 50% of degraded peatlands.