Valorization of selected wastes by pyrolysis has been claimed as an alternative to incineration. Lube oil waste, LOW, coming from automotion and industry is a good candidate for valorization via pyrolysis and subsequent utilization of gases and liquids produced. In this paper, the results obtained from pyrolysis of a LOW at temperature from 600 to 700 degrees C and pressure from 0.1 to 1 MPa are presented. High yields of valuable light olefins as ethylene and propylene and light aromatics, BTX, are obtained. Distribution of pyrolysis yields significantly varies as function of temperature and pressure. The optimum conditions for pyrolysis according to two different approaches to LOW valorization are discussed. The first one, called petrochemical, assumes that pyrolysis is carried out near a refinery so that the pyrolysis products are added to the refinery feedstocks. Production of light olefins is favored by this approach. The best results are obtained at a temperature of 650 degrees C and 0.1 MPa. The second approach, called hybrid, assumes that pyrolysis is carried out in a specific installation and a gas fuel to be used in situ and liquids to be upgraded in a separate installation are produced. Production of light alkanes which are preferred as fuel and BTX is favored by this approach. Both yields are enhanced at high temperature and pressure.