Terminally vinyl-functionalized polyisobutylene (PIB) oligomers can be easily transformed into end-functionalized PIB-bound Ru metathesis catalysts. The nonpolar catalysts so prepared can be used as solutions in heptane and recycled by a gravity-based extraction after addition of a heptane-immiscible polar solvent. This paper describes the synthesis and the recycling of a PIB-supported second-generation Hoveyda-Grubbs catalyst for Ru-catalyzed ring-closing metathesis and ring-opening metathesis polymerizations.