The present-day exponential increase in technological development to fulfil the needs of the expeditious information era resulted in the discarding of electronic and electrical equipment at a much faster rate than in the past. E-waste which is classified under hazardous wastes, if not collected and disposed of properly, can pose a threat to the environment and the health of living beings. The world produced 53.6 Mt of e-waste during the year 2019, that is, 21% more in the last 5 years and it is predicted that, it will reach 74 Mt globally by the year 2030. It is reported that, with 24.9 Mt, Asia topped the list with respect to generation of the e-waste followed by America (13.1 Mt), Europe (12 Mt), Africa (2.9 Mt) and Oceania (0.7 Mt). The common e-waste components include cathode ray tubes, dismantled PCB processing, wires, gold-plated substances, chips, printed circuit board, plastic from computers and peripherals. The potential environmental impacts of e-waste include the direct release of hydrocarbons leaching of heavy metals like Pb, Ba, Cd, and Hg into both the surface and groundwater, causing water pollution. Also, heavy metals, hydrocarbons, brominated dioxins, ashes, and PAHs are released into the air and soil, causing environmental pollution. Silicosis, skin contamination, and inhalation of Pb, Cd, Hg, and brominated dioxin among the employees and nearby residents are common health hazards. Acid mists and fumes, SO2, and Cl2 gas released during the process can cause pulmonary oedema and circulatory failure, causing death of the organism. Proper disposal and management including the old and discarded electronic gadgets, by implementing the 5Rs steps, that is, refuse, reuse, reduce, recycle and repurpose, must be followed. In the present review, an attempt has been made for an in-depth review of environmental impacts and the challenges and opportunities associated with the effective management of e-waste in an eco-friendly way.