A grease disposal and storage system for the efficient and safe disposal of hot grease and unhealthy fats from food items. The grease disposal and storage system generally includes a container including a cavity, wherein the cavity is defined within the container. A receptacle is positioned within the cavity of the container. A support is positioned within the cavity, wherein the support is positioned near an opening of the receptacle. A funnel is positioned within the cavity, wherein the funnel is stabilized by the support. The funnel is aligned with the opening of the receptacle so as to guide a disposable substance through the funnel and into the receptacle.