In contemporary times, plastic waste has risen to the forefront of worldwide environmental concerns, primarily due to its pervasive presence in both terrestrial and marine ecosystems. This alarming trend is attributed to the increasing consumption of raw materials and heightened pollution levels. The ASEAN member states, in accordance with the ASEAN Community Vision 2025, sets out the ambitious objective of establishing “vibrant, sustainable, and highly integrated economies.” Achieving this goal necessitates a fundamental departure from the traditional linear economy characterized by wasteful consumption and disposal. Instead, it calls for a transformative shift toward a sustainable and regenerative circular economy (CE) paradigm. The transition to a CE, with its core principles of waste reduction, recycling, and resource efficiency, assumes unparalleled significance. It offers not only the means to address the menace of plastic waste but also a pathway to sustaining economic growth while concurrently preserving and restoring the environment. Through the adoption of a CE framework, ASEAN nations have the potential to harness the dual benefits of environmental preservation and economic prosperity, thereby contributing to a more sustainable and harmonious future. This chapter will conduct a comprehensive review and comparative analysis of the policy and regulatory frameworks governing the development and implementation of the CE in the European Union (EU) and the ASEAN region. The insights gained from this examination will be used to offer valuable lessons and implications for enhancing CE practices in the ASEAN region.