Rapid accumulation of waste tires from automobile industries across the globe poses significant environmental challenges due to their non-biodegradability, complex chemical composition and current disposal techniques. Thus, there is an urgent need to consider recycling and transformation of these waste tires into functional materials while promoting the circular economy and environmental sustainability. Recent advancements in material science research have highlighted the potential of converting waste tires into valuable porous carbon materials based on their rich carbon polymeric composition. Among the various conversion techniques, carbonization and activation have been shown to yield microporous, mesoporous and macroporous carbon with a large specific surface area up to 2450 m2g− 1 with doped heteroatoms (P, B, N and O) that enhances its surface chemistry in diverse applications. Thus, this review looks to investigate various processes involved in converting waste tires into high-performance porous carbon for electrocatalysis, adsorbents, catalyst support, and electrodes for energy storage devices. It also highlights the recent trend of tire compositions, tire chemistry in terms of vulcanization and devulcanization towards a greener economy. Additionally, it proposes future research directions to enhance the viability of waste tire-derived porous carbon materials.