This work is aimed at analyzing potential links between reverse logistics and urban logistics and describing opportunities for collaboration between both areas of research. A description of the current state-of-the-art is provided in order to highlight the main challenges faced by both disciplines. For example, regarding reverse logistics, new recovery options, marketing strategies for recovered products, and legislation issues on the return of products in specific contexts; in regards to urban logistics, long-term planning, stakeholders’ engagement, information management, efficiency, reliability and safety, and new business models are some of such key challenges. Despite the growing interest shown in both logistics areas and their relevance for companies and consumers, reverse logistics and urban logistics are two concepts that are still somewhat unknown and, above all, treated as being relatively separated. However, there exist some aspects where the two disciplines converge and that may represent opportunities for collaboration, for example, the proper treatment and management of urban waste, and the efficient management of commercial refunds and returns. In addition, other key issues, such as land use, city typology, infrastructures, and stakeholders’ engagement should be further analyzed in order to keep advancing in the description of links between both areas.