In the year 1928, Arthur Eddington, a British physicist, first introduced the word “time’s arrow” to physics. He believed that the arrow of time is vividly recognized by consciousness and insisted that the reversal of this arrow would render the physical world nonsensical. It is widely known that the laws of physics remain unchanged under the combination C, P, and T and that the laws of physics do not change with the flow of time but that is not the case under the operation T alone. This paper focuses on mainly three arrows of time, the thermodynamic arrow of time, the psychological arrow of time and the cosmological arrow of time and discusses the reversal of the arrow of time and its implications.