Plastic waste pollution poses a noteworthy threat to the environment, encouraging the development of innovative solutions for its management and conversion into valuable products. This article provides a review on negative impact of plastic pollution and current challenges in plastic waste management. It further discusses the potential of converting plastic waste into hydrogen as a renewable energy source through thermochemical processes like gasification. Gasification is a four-step process: (a) drying, (b) pyrolysis or combustion, (c) oxidation, and (d) reduction. Recent advancements in plastic waste conversion technologies, such as advanced pyrolysis, mechanical recycling, hybrid approaches, and nanotechnology, are also explored. This article also evaluates the advantages and disadvantages of hydrogen production from plastic waste majorly emphasizing upon its potential as a clean energy and its possible contribution to circular economy by evaluating the potential markets. Recent developments in techno-economic analysis and life cycle assessment are highlighted, underscoring the importance of evaluating the economic feasibility and environmental sustainability of plastic waste-to-hydrogen technologies.