The polyethylene terephthalate (PET) application has many challenges and potential due to its sustainability. The conventional PET degradation was developed for several technologies to get higher yield products of ethylene glycol, bis(2-hydroxyethyl terephthalate) and terephthalic acid. The chemical recycling of PET is reviewed, such as pyrolysis, hydrolysis, methanolysis, glycolysis, ionic-liquid, phase-transfer catalysis and combination of glycolysis-hydrolysis, glycolysis-methanolysis and methanolysis-hydrolysis. Furthermore, the reaction kinetics and reaction conditions were investigated both theoretically and experimentally. The recycling of PET is to solve environmental problems and find another source of raw material for petrochemical products and energy.