NdFeB permanent magnet scrap is regarded as an important secondary resource which contains rare earth elements (REEs) such as Nd, Pr and Dy. Recovering these valuable REEs from the NdFeB permanent magnet scrap not only increases economic potential, but it also helps to reduce problems relating to disposal and the environment. Hydrometallurgical routes are considered to be the primary choice for recovering the REEs because of higher REEs recovery and its application to all types of magnet compositions. In this paper, the authors firstly reviewed the chemical and physical properties of NdFeB permanent magnet scrap, and then carried out an in-depth discussion on a variety of hydrometallurgical processes for recovering REEs from the NdFeB permanent magnet scrap. The methods mainly included selective leaching or complete leaching processes followed by precipitation, solvent extraction or ionic liquids extraction processes. Particular attention is devoted to the specific technical challenge that emerges in the hydrometallurgical recovery of REEs from NdFeB permanent magnet scrap and to the corresponding potential measures for improving REEs recovery by promoting the processing efficiency. This summarized review will be useful for researchers who are developing processes for recovering REEs from NdFeB permanent magnet scrap.