A waste management system ad method for processing and reusing organic waste such as food, green compost, and the like. The waste is delivered from a shredder to three sequential augers, each having a rotating shaft and a helically-wound blade spiraling therealong. The blades of the augers compress the waste and extract liquid therefrom to be drained into a tank for subsequent use as a fuel or a fertilizer. The remaining organic waste is then heated and dried in a dual drum dryer. From the dryer, the waste is delivered to a pelletizer having an apertured shaping plate extending thereacross through which the waste is pushed and shaped into solid pellets. The hot and dry pellets are cooled within a dual drum cooler. From the cooler, the organic waste pellets are collected, packaged and distributed.