Currently, the cultivation and harvesting of mollusks is a crucial activity worldwide. However, this industry generates a large amount of mollusk shell waste disposed of in landfills, causing environmental pollution. In addition, the companies linked to this item allocate large sums of money to depositing the shells in authorized landfills. In South America, Chile is one of the leading producers worldwide of scallop shell (Argopecten purpuratus) waste, creating a growing environmental and financial problem in the country, especially considering that there has yet to be progress in the development of new technologies that may reuse this waste in Chile. This study used different techniques to completely characterize the northern Chile scallop shell waste’s physical and chemical properties for the first time. The XRD result corresponded with calcite crystal structures (CaCO3), and the XFR showed 97.68% purity. Three particle sizes were obtained: BS (595–100 µm), MS (250–595 µm), and SS (<250 µm). In addition, the potential use of these wastes to remove contaminants present in water from the wine industry (caffeic acid) and some drinking water (arsenic(III)) was evaluated. The powder with the smallest particle size (SS), which has a surface area of 1 m2/g, 0.0050 m3/g of pore volume and pore diameter of 18.0 nm, removed 100.0% of CA and 23.0% As(III) in a pH condition of 4.6. The results show that scallop shell waste can be used to treat water and reinforce polymeric matrix composite materials to improve mechanical properties.