Space debris is a global mounting ultimatum to the enduring maintainability of outer space activities. It ought to be managed from the very beginning. For the last couple of years, collisions have enhanced space debris accumulation, and the rate at which space activities have resulted in the production of debris is at a threshold position in a linear fashion. Ultimately, space has become the rendezvous of space debris. Considering the growing accumulation of debris and the emerging apprehension regarding a horrible strike and collapse of whole space programs, this paper focuses on the legal and administrative challenges. Both developing and developed countries realize the value of a competent regime that could administer, supervise, finance, and promote the research, examination, and development of outer space. Thus, this research suggests an autonomous, competent international space authority be established by a treaty or international agreement following the model of the deep seabed authority because it has similar natural resources but a geographically different location.