Allow 12-24 hours for all of the oil to drain out of the old oil filter.

Take your old oil and filter to a recycling facility. Most auto parts stores and repair shops accept these at no charge to you. In addition, some cities and/or counties have a service where they will collect used oil and filters from your home. For more information, see the American Petroleum Institute's web page on used motor oil collection and recycling.

Do not just throw used oil in the garbage. It is a hazardous waste product that needs to be properly disposed.