Metal organic frameworks (MOFs) have been investigated extensively for separation, storage, catalysis, and sensing applications. Nonetheless, problems associated with their toxicity, recycling/reuse/regeneration, and degradation have yet to be addressed as one criterion to satisfy their commercialization. Here, the challenges associated with MOF-based technology have been explored to further expand their practical utility in various applications. We start a brief description of challenges associated with MOF-based technology followed by a critical evaluation of toxicity and need of technical options for regeneration of MOFs. Importantly, diverse techniques/process for reuse and regeneration of MOFs like activation of MOFs by heat, vacuum, solvent exchange, supercritical carbon dioxide (SCCO₂) and other miscellaneous options have been discussed with recent examples. Afterward, we also present an economical aspect and future perspectives of MOFs for real world applications. All in all, we aimed to present opportunities and critical review of the current status of MOF technology with respect to their recycling/reuse/regeneration to consider their environmental impact.