The emission of off-odors from mechanically recycled plastics severely limits their re-introduction into the market for the production of new objects, for the same use or even for less demanding applications, thus hindering the implementation of an effective circular economy for plastics. The addition of adsorbing agents during the extrusion of polymers represents one of the most promising strategy to reduce the odorous emissions of plastics, due to its characteristics of cost-effectiveness, flexibility and low energy consumption. The novelty of this work lies in the assessment of zeolites as VOC adsorbents during the extrusion of recycled plastics. They appear more suitable than other types of adsorbents, due to their ability to capture and “hold” the adsorbed substances at the high temperatures of the extrusion process. Moreover, the effectiveness of this deodorization strategy was compared with the traditional degassing technique. Two types of mixed polyolefin wastes, coming from completely different collection and recycling processes, were tested: Fil-S (Film-Small), deriving from post-consumer flexible films of small size, and PW (pulper waste), which is the residual plastic waste obtained from the paper recycling process. The melt compounding of the recycled materials with two micrometric zeolites (zeolite 13X and Z310) resulted as more effective in the off-odors removal with respect to degassing. In particular, the highest reduction (−45%) of the Average Odor Intensity (AOI) was measured for both PW/Z310 and Fil-S/13X systems at 4 wt% of the zeolites’ amount, compared with the corresponding untreated recyclates. Finally, by combining degassing and melt compounding with zeolites, the best result was obtained for the composite Fil-S/13X, whose Average Odor Intensity resulted as quite close (+22%) to the one of the virgin LDPE.