With the rapid increase in numbers of private vehicles on the road, many transportation related issues like congestion, crashes and injuries, pollution, noise etc. have grown very rapidly. Urban settlements like core CBD and heritage town, which were planned for NMT and pedestrians, are worst affected. Environment, in such areas, has degraded to the extent that people do not wish to visit these areas anymore. On another hand, these areas have very significant role in economy and identity of the city. Due to unavailability of space and socio-economic system, only feasible way to upgrade mobility and environment in such special areas is to pedestrianize them. Pedestrianization of the congested street is a very effective, low-cost and sustainable solution. Other than congestion reduction, Pedestrianization has numerous benefits. These list of benefits can be used to advocate Pedestrianization of any street. It can also help in estimating the cost to benefit ratio of such schemes. The first part of this paper summarize various benefits of Pedestrianization from the experience of Pedestrianization scheme around the globe and various researches conducted on its impact. These Benefits can be separated in various categories based on impacts on Transportation, Society, Environment, Economics, and Health. The second part of the paper list down various warrants that can be used as the indicators for the need of Pedestrianization in an area. These warrants can also be used as justification to pedestrianize an area. This paper will help various urban policy makers, land-use and transportation planner, environmentalists and citizens etc. in decision making to solve various urban issues related to transportation.