Researchers around the world are studying on different carbon capture and storage (CCS) options to reduce global warming by reducing CO2 emission from various sources. Among all these options carbonation technology has some promising benefits over other technologies such as exothermic heat, availability of feed stocks, safe carbonated product and value added product and by-product, etc. In carbonation technology CO2 chemically reacts with Ca/Mg bearing oxides or hydroxides and transformed into an environmentally safe solid carbonate materials. This technology has attracted attention of several researchers around the world and scientists of Albany Research Centre, USA have been working on it for few years. Recently aproject has been established in Newcastle, Australia to set up a carbonation plant. Considering the potential benefits mentioned above, the prospects of carbonation technology to reduce global warming by reducing CO2 emission have been reviewed, discussed and evaluated in this study.