Chemical upgrading of waste plastics is currently one of the most important methods for addressing plastic pollution. In comparison to the current methods of incineration or landfill, chemical upgrading enables the utilization of carbon and hydrogen elements in waste plastics as resources. This process strongly relies on efficient catalysts and reaction systems. Through catalyst design, waste plastics can be converted into fuels or chemicals under the optimized reaction conditions, extending their life cycles. In this review, we systematically discuss various chemical conversion methods for polyolefin waste plastics, which account for a large proportion of waste plastics. We further explore the remaining challenges and future development trends in this field, including improving product value through product engineering and shifting research perspectives to exploring the tolerance of catalysts toward impurities in practical waste plastic waste rather than using pure plastic feedstock.