Waste plastics are non‐degradable constituents that can stay in the environment for centuries. Their large land space consumption is unsafe to humans and animals. Concomitantly, the continuous engineering of plastics, which causes depletion of petroleum, poses another problem since they are petroleum‐based materials. Therefore, energy recovering trough pyrolysis is an innovative and sustainable solution since it can be practiced without liberating toxic gases into the atmosphere. The most commonly used plastics, such as HDPE, LDPE (high‐ and low‐density polyethylene), PP (polypropylene), PS (polystyrene), and, to some extent, PC (polycarbonate), PVC (polyvinyl chloride), and PET (polyethylene terephthalate), are used for fuel oil recovery through this process. The oils which are generated from the wastes showed caloric values almost comparable with conventional fuels. The main aim of the present review is to highlight and summarize the trends of thermal and catalytic pyrolysis of waste plastic into valuable fuel products through manipulating the operational parameters that influence the quality or quantity of the recovered results. The properties and product distribution of the pyrolytic fuels and the depolymerization reaction mechanisms of each plastic and their byproduct composition are also discussed.