Abstract: Microplastics are pervasive contaminants in the ecosystems and have become a major concern for ecosystem integrity and public health. The rapid expansion of industrial activities, coupled with inadequate waste management and widespread plastic usage, has resulted in a substantial increase in microplastic pollution. Particles smaller than 150 μm penetrate the food chain, thereby leading to their accumulation and potential induction of adverse toxicological effects, including acute toxicity, chronic health impacts, carcinogenesis, developmental abnormalities and genotoxicity. Addressing this issue necessitates a sustainable framework focused on the reduction, reuse and recycling of plastic waste or using alternative materials in place of plastics to mitigate environmental microplastic burdens. However, despite increasing recognition of the problem, effective management strategies remain limited and this review provides an insight into the origin, source, effects and mitigation measures against the unseen and unavoidable menace of microplastic pollution in our dear environment. In parallel, the present work examines the potential for transforming plastic waste into value-added products, thereby offering a promising avenue to reduce environmental plastic accumulation while delivering sustainable societal benefits.