Waste lubricating oil(WLO)s have been recycled as energy source through direct fuel in cement kilns and fossil power plants, or as fuel oils, or re-refined lubricating base oils. In our country, they have been recycled as low grade fuel oil through chemical treatment process. In 2003, extended producer responsibility (EPR) system was adopted from deposit system on sale of lubricating oils in order to promote their recycleing rate. However, our recycling rate of WLOs have been stagnant(below 70%) for last 5 years. And there has been no research work on recycing of WLOs as re-refinde base oil until now in this country. Stabilization technology of thermally cracked oils to reduce tar and malodor and to improve their color for production of high grade fuel oil, and a novel process production of high grade re-refined lubricating base oil from WLOs have been developed and commercialized recently in Canada and U.S.A., respectively. Several countries like Australia, Italy, Germany and U.S.A., etc. are encouraging recycling companies to recycle WLOs as re-refined lubricating oil by giving greater subsidies or benefits compared to other recycling methods. They also adopt a policy to purchase re-refined lubricating oil preferentially in the federal or local governments and to recommend consumers to purchase it willingly. Based on the facts that several advanced countries have adopted a policy to recycle WLOs as re-refined base oil for saving of petroleum resource and redrction of environmental pollution, it is right time to be considered that our present policy for recycling of WLOs should be reevaluated and the new policy of their environmental-friendly and sustainable recycling should be established.