Petroleum sludge is a solid emulsified waste and contaminant commonly produced in the petroleum industry. In the recent past, there has been increased business growth in the oil sector, resulting in increased volumes of oily sludge characterized by high viscosity and toxicity. Therefore, sludge treatment before discarding is extremely necessary. This review seeks to highlight various conventional and evolving approaches in the treatment, recovery, and disposal of petroleum sludge and assess their suitability under various conditions. © 2022, The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.