Life cycle assessment of recycling rare earths from waste fluorescent powders was conducted, including the uncertainty and sensitivity analyses. Three scenarios were set in this study, namely, recycling with/without final disposal and waste fluorescent powders landfill. Recycling with final disposal presented lower environmental burden than that without final disposal due to the significant reduction of direct emissions. The evident impacts from chemicals and energy production stages were considered the main contributors to the overall environmental burden of recycling with final disposal due to their relatively high emissions of particulates matter, sulfur dioxide, heavy metals, and carbon dioxide as well as the use of fossil fuel. Compared with landfills, rare-earth recycling shows the highest environmental benefits because of the substitution of primary rare earths. To relieve the high demand of rare earths and reduce the overall environmental burden, governments are highly recommended to increase recycle rate, create a complete management system, improve energy consumption and wastewater treatment efficiency, and build an adequate recycle standard.