Lead-acid batteries (LABs) have become an integral part of modern society due to their advantages of low cost, simple production, excellent stability, and high safety performance, which have found widespread application in various fields, including the automotive industry, power storage systems, uninterruptible power supply, electric bicycles, and backup power supplies. Hence, the use of LABs has greatly benefited human society and contributed to advancements in science and technology. However, the extensive use of LABs unavoidably leads to the generation of a significant amount of LABs waste. On one hand, if these waste LABs are not handled properly, any leakage can cause devastating damage to the natural environment and human health. On the other hand, waste LABs represent an important secondary resource for lead, with approximately 64.57% of global lead resources derived from recycled lead, making them a major source of lead worldwide. Moreover, approximately 85% of global lead resources are currently utilized for manufacturing LABs, and the recycling of waste LABs brings favourable prospects for the sustainable development of the energy storage industry. Therefore, the recycling of waste LABs is necessary and inevitable. In this paper, we have comprehensively reviewed the methods of recycling waste LABs. Particularly, we focused on the valuable component of waste lead paste and critically evaluated the pyrometallurgical and hydrometallurgical techniques associated with it. By categorizing and summarizing the characteristics of different methods, we have conducted a detailed comparison of these technologies, aiming to provide a comprehensive assessment of the advantages, disadvantages, status, and trends in LABs recycling technology. Additionally, the paper explores the necessity and impacts of recycling waste LABs from the perspectives of resource, energy, economy, environment, and society. It discusses the challenges faced by waste LABs recycling and presents the development prospects from both technical and non-technical point of views.