Exemplary embodiments of the present invention provide a substrate recycling method and a recycled substrate. The method includes separating a substrate having a first surface from an epitaxial layer, performing a first etching of the first surface using electrochemical etching, and performing, after the first etching, a second etching of the first surface using chemical etching, dry etching, or performing, after the first etching, chemical mechanical polishing of the first surface.