This study provides a comparison between environmental impacts of the recovery of platinum group metals (PGMs) from the end-of-life catalytic converters by hydrometallurgical and pyrometallurgical methods. A gate to grave life cycle assessment of a typical three-way catalytic converter manufactured for an Australian passenger car was carried out using GaBi professional environmental package. Recovery rates, as well as qualities, quantities, losses, and fugitive emissions for all materials and elements used in both methods were calculated based on the developed flowsheets. A life cycle impact assessment was then made by carrying out a mass balance calculation. Inventory data show that the hydrometallurgical route for recycling of the platinum group metals out of catalytic converter scrap has lower impacts on the environment compared with the pyrometallurgical method. In terms of emission effects, the hydrometallurgical process was found to be highly advantageous since it causes insignificant emissions to air, sea water, and fresh water. It is also found that the hydrometallurgical route performs comparatively superior in terms of acidification, eutrophication, fossil depletion, and human toxicity. The obtained results are applicable only to the Australian setting.