Excessive exploitation, negligence, non-degradable nature, and physical and chemical properties of plastic waste have resulted in a massive pollution load into the environment. Consequently, plastic entres the food chain and can cause serious health issues in aquatic animals and humans. The present review summarizes currently reported techniques and approaches for the removal of plastic waste. Many techniques, such as adsorption, coagulation, photocatalysis, and microbial degradation, and approaches like reduction, reuse and recycling are potentially in trend and differ from each other in their efficiency and interaction mechanism. Moreover, substantial advantages and challenges associated with these techniques and approaches are highlighted to develop an understanding of the selection of possible ways for a sustainable future. Nevertheless, in addition to the reduction of plastic waste from the ecosystem, many alternative opportunities have also been explored to cash plastic waste. These fields include the synthesis of adsorbents for the removal of pollutants from aqueous and gaseous stream, their utility in clothing, waste to energy and fuel and in construction (road making). Substantial evidence can be observed in the reduction of plastic pollution from various ecosystems. In addition, it is important to develop an understanding of factors that need to be emphasized while considering alternative approaches and opportunities to cash plastic waste (like adsorbent, clothing, waste to energy and fuel). The thrust of this review is to provide readers with a comprehensive overview of the development status of techniques and approaches to overcome the global issue of plastic pollution and the outlook on the exploitation of this waste as resources.