Plastic waste has caused severe global environmental pollution and health issues due to the high production rate and lack of proper disposal technology. Traditional methods to deal with plastic waste, such as incineration and landfilling, are deemed unsustainable and energy‐intensive. A promising alternative is the photocatalytic conversion of plastic waste, using sunlight as a sustainable and carbon‐neutral energy source to break down plastic waste under ambient pressure and low temperatures. This review aims to provide a comprehensive summary of recent advancements in plastic photoconversion, with an emphasis on the catalysts and reaction pathways. The mechanisms and reaction pathways are first summarized, followed by a detailed discussion of strategies to design catalysts for improved performance in photoconversion. Then, examples of photothermal degradation processes are presented. Finally, current strategies, challenges, and possible future directions of plastic photoconversion are summarized and discussed.