The present invention provides a system and method for recycling an abrasive chemical mechanical polishing (CMP) slurry after polishing substrates therewith. The method comprises circulating the recovered CMP slurry from a blending tank through an ultrafiltration unit and back into the, the ultrafiltration unit removing a predetermined amount of water from recovered slurry to form a slurry concentrate; optionally adjusting the pH of the concentrate to a predetermined target level; and optionally adding selected additive chemical components and/or water to the concentrate in amounts sufficient to form a reconstituted CMP slurry that is suitable for use in a CMP process.