Hydrogen sulfide (H₂S) is a toxic gas released from natural occurrences (such as volcanoes, hot springs, municipal waste decomposition) and human economic activities (such as natural gas treating and biogas production). Even at very low concentrations, H₂S can cause adverse health impacts and fatality. As such, the containment and proper management of H₂S is of paramount importance. The recovered H₂S can then be transformed into hydrogen (H₂) and various value-added products as a major step towards sustainability and circular economy. In this review, the state-of-the-art technologies for H₂S conversion and utilization are reviewed and discussed. Claus process is an industrially established and matured technology used in converting H₂S to sulfur and sulfuric acid. However, the process is energy intensive and emits CO₂ and SO₂. This calls for more sustainable and energy-efficient H₂S conversion technologies. In particular, recent technologies for H₂S conversion via thermal pyrolysis, biological, plasma (thermal and non-thermal), electrochemical and photocatalytic, are critically reviewed with respect to their strengths and limitations. Besides, the potential of diversified value-added products derived from H₂S, such as H₂, syngas, carbon disulfide (CS₂), ammonium sulphate ((NH₄)₂SO₄), ammonium thiosulfate ((NH₄)₂S₂O₃), methyl mercaptan (CH₃SH) and ethylene (C₂H₄) are elucidated in detail with respect to the technology readiness level, market demand of products, technical requirements and environmental impacts. Lastly, the technological gaps and way forward for each technology are also outlined.