Massive waste rock wool was generated globally and it caused substantial environmental issues such as landfill and leaching. However, reviews on the recyclability of waste rock wool are scarce. Therefore, this study presents an in-depth review of the characterization and potential usability of waste rock wool. Waste rock wool can be characterized based on its physical properties, chemical composition, and types of contaminants. The review showed that waste rock wool from the manufacturing process is more workable to be recycled for further application than the post-consumer due to its high purity. It also revealed that the pre-treatment method—comminution is vital for achieving mixture homogeneity and enhancing the properties of recycled products. The potential application of waste rock wool is reviewed with key results emphasized to demonstrate the practicality and commercial viability of each option. With a high content of chemically inert compounds such as silicon dioxide (SiO₂), calcium oxide (CaO), and aluminum oxide (Al₂O₃) that improve fire resistance properties, waste rock wool is mainly repurposed as fillers in composite material for construction and building materials. Furthermore, waste rock wool is potentially utilized as an oil, water pollutant, and gas absorbent. To sum up, waste rock wool could be feasibly recycled as a composite material enhancer and utilized as an absorbent for a greener environment.