Chemical upcycling of waste plastics into high‐value‐added products is one of the most effective, cost‐efficient, and environmentally beneficial solutions. Many studies have been published over the past few years on the topic of recycling plastics into usable materials through a process called catalytic pyrolysis. There is a significant research gap that must be bridged in order to use catalytic pyrolysis of waste plastics to produce high‐value products. This review focuses on the enhanced catalytic pyrolysis of waste plastics to produce jet fuel, diesel oil, lubricants, aromatic compounds, syngas, and other gases. Moreover, the reaction mechanism, a brief and critical comparison of different catalytic pyrolysis studies, as well as the techno‐feasibility analysis of waste plastic pyrolysis and the proposed catalytic plastic pyrolysis setup for commercialization is also covered.