Desalination brine can negatively impact the marine environment in several ways, although there are ongoing discussions regarding the severity and magnitude of environmental effects. A fascinating strategy to lessen any adverse effects is to undertake resource recovery from the brine, which also has the potential for additional revenue generation. More recently, the increasing demand for secure and less geographically restricted sources of precious or rare earth minerals, integrated with growing awareness of waste management and environmental sustainability, is driving the development of economically viable technologies to recover valuable materials from waste streams. This article provides an overview of different methods and technologies, including reverse osmosis (RO), electrodialysis (ED), and distillation, that can be used to recover precious materials, including Li, Mg, Na, and Rb and valuable blends from various waste sources and thus create a more sustainable and circular economy. The mechanisms are discussed in detail, including electrochemical processes (electrolysis, ED, and capacitive deionization), thermal desalination (multistage flash distillation and membrane distillation), pressure‐driven desalination (RO and nanofiltration), and microbial desalination cells. Challenges associated with recovering precious materials from waste streams, such as fouling, scaling, and environmental impact, along with further research directions and potential applications of desalination technologies, are also addressed.