The Basel Convention (1989) and Rio Summit (1992) were two major instances to tackle with the main issues on Hazardous Waste. The first one is the mechanism to control the illegal traffic of hazardous waste, and to promote an Environmental Sound Management for the overall waste cycle. On the other hand, Rio Summit launched a renewed interest on regulatory environmental instruments for pollution prevention, control and mitigation of environmental damages generated by industrial activities. Among them, one of the major challenges is related to the hazardous waste management. In Latin America, as well as in the rest of the world, the theme has been considered mainly through the environmental regulations, pushing the enterprises to look for different solutions to face the high costs involved in the production processes. In this paper, a comparative assessment was made of the hazardous waste management in four Latin American oil-producing countries. The specific environmental regulations adopted are reviewed, to show the status of present environmental policies and legal measures to promote reuse, recycle, recovering and reduction of hazardous materials and wastes. Coincidential provisions are reported, as well as the differences in the legal approach, which is a clear signal of the efforts made in environmental regulations, trying to control and prevent the pollution generated by industries.