Every year around 100 million tons of plastic waste gets accumulated in the environment globally and is increasing at an alarming rate. Plastic waste leads to death of various marine and terrestrial animals due to choking or by entanglement. To increase the tensile strength of the plastic, various plasticizers (e.g., phthalate) were added to the plastic. These phthalates are reported as endocrine disruptor and also reported to have carcinogenic potential. So, to tackle the plastic waste management, various degradation methods (photodegradation, thermo-oxidative degradation, and the biodegradation) used to degrade plastic waste were also discussed. Among all the methods, bioremediation is considered as the most efficient method. In the present chapter, an attempt was made to discuss various types of plastic waste targeted by different researchers to degrade it using different microbes, viz., algae and fungi. The first report of plastic degradation was also briefed. The detailed mechanism of plastic waste biodegradation is also presented in this chapter followed by enlisting the plastic-degrading microbes that belong to only algae and fungi.