Waste from scrap tyres, due to its high volume (17 million Mg per year) and durability resulting from the physical and chemical properties, requires innovative approaches for efficient and environmentally friendly management. In many countries, the landfilling of waste tyres is banned (e.g., EU, USA, UK); however, waste tyres can be a source of valuable materials such as carbon black, pyrolysis oil, hydrogen-rich syngas, tyre char, as well as energy. The purpose of this article is to provide a synthesis of the state of knowledge regarding the thermal conversion of waste tyres by pyrolysis and gasification, taking into account the use of different measurement techniques and reactor types. These technologies are forward-looking and have a high degree of flexibility in terms of product sourcing, depending on the process conditions. The properties of waste from used tyres were analysed, i.e., the composition of the content of individual components and the main chemical substances. The results encompassed ultimate and proximate analyses of rubber from tyres, as well as the physical and chemical parameters of the tyre char obtained through pyrolysis. This article compiles available literature data regarding the impact of process and raw material parameters, such as temperature and time conditions, pressure, particle size, and catalyst addition on the pyrolysis and gasification processes. It also explores the influence of these factors on the yield and properties of the products, including pyrolysis oil, gas, synthesis gas, and tyre char.