Plastic is an abundant, cheap, versatile and convenient material that in modern life replaces many other natural materials. Plastic appeared in humanity a little more than a century ago and it is assessed that since its appearance more than 8.3 billion metric tons have been produced until 2020 while around 6.3 billion tons of them has become waste. So production, use and deposition of plastic has become a remarkable environmental pressure specially in the marine environment that is one of the most important receivers as more than 8 Mt of plastic enter the oceans each year. Recycling presents a viable solution by diverting waste from marine environments and reducing the demand for virgin plastic. Six plus one types of plastic are widely used nowadays: PET, HDPE, LDPE, PP, PVC, PS and the seventh one “Other” includes all types of plastic not falling into any of the other six types. Not all types of plastic are recyclable. At the same time, there are three plus one recycling methods: Mechanical recycling, Chemical Recycling, Incineration and the under development Enzymatic Recycling each of them having advantages and disadvantages. This paper investigates the current state of plastic recycling, its potential to alleviate marine pollution, and the technological, economic, and policy challenges that hinder scaling up efforts. It also explores policy innovations—such as extended producer responsibility (EPR) and plastic use restrictions—and emphasizes the need for global and regional cooperation, especially in plastic pollution hotspots like the Mediterranean Sea.