Circular Economy (CE) is a sustainable development paradigm that promotes resource efficiency, closed-loop systems, and waste reduction to minimize environmental impacts while fostering economic growth; its popularity is rising at a global scale since the negative effects of linear consumption patterns become more apparent. In this direction, the ASEAN (Association of South East Asian Nations) countries have shown a rising interest in CE due to the region’s rapid economic growth and urbanization led to increasing resource consumption and waste generation, which makes CE imperative to safeguard their natural resources and ecosystems. The methodology assessed and compared CE policy documents and academic sources, focusing on excellence and expected impacts, excluding obsolete policies. As the foremost finding, this work provides a comprehensive assessment of the CE strategies comparing the ten ASEAN countries for understanding the current direction of circularity across the region, which is insufficient, although the need for a CE is understood and numerous policy strategies are currently in the work or pending to be approved; Vietnam is the most promising nation for CE implementation. Brunei, Laos, and Myanmar are the most stagnant, while the rest of the countries are progressing adequately. First, this paper introduces the most critical environmental issues across the ASEAN region and briefly describes the concept of CE. Secondly, it assesses the most up-to-date and remarkable CE policies of each nation. Thirdly, it discusses how CE can address their challenges to be catalyzed into opportunities, comparing the ten states considering their CE advancements. This work will be interesting for foreign investors, the general public, Academia, and policymakers.