Oyster farming represents one of the most developed aquaculture activities, producing delicacies unfortunately related to a direct accumulation of waste shells. Facing what is becoming an environmental issue, chemists are currently developing solutions to add value to this wild source of raw material in line with the principles of sustainable chemistry. An argumentative overview of this question is proposed here with a focus on recent data. Starting with a presentation of the environmental impact of oyster farming, existing and promising applications are then classified according to the type of raw materials derived from the oyster shell, namely the natural oyster shell (NOS), the calcined natural oyster shell (CNOS), and biomolecules of the organic matrix extracted from the oyster shell. Their relevance is discussed in regard to their scalability, originality, and sustainability. This review constitutes the first critical compilation on oyster shell applications, with the aim to provide essential elements to better comprehend the recycling of waste oyster shells.