This review provides a current summary of the major sources and distribution of ocean plastic contamination, their potential environmental effects, and prospects towards the mitigation of plastic pollution. A characterization between micro and macro plastics has been established, along with a comprehensive discussion of the most common plastic waste sources that end up in aquatic environments within these categories. Distribution of these sources stems mainly from improper waste management, road runoff, and wastewater pathways, along with potential routes of prevention. The environmental impact of ocean plastics is not yet fully understood, and as such, current research on the potential adverse health effects and impact on marine habitats has been discussed. With increasing environmental damage and economic losses estimated at $US 1.5 trillion, the challenge of ocean plastics needs to be at the forefront of political and societal discussions. Efforts to increase the feasibility of collected ocean plastics through value-added commercial products and development of an international supply chain has been explored. An integrative, global approach towards addressing the growing ocean plastic problem has been presented.