The invention relates to a process for converting an elastomer from scrap to a regenerated elastomer which comprises the steps of: (a) introducing the elastomer from scrap into a vessel; (b) agitating the elastomer from scrap; (c) heating the elastomer from scrap to a temperature below a temperature where the elastomer begins to degrade; (d) introducing an oil into the vessel and admixing together the elastomer from scrap and the oil; and (e) cooling down the so formed regenerated elastomer, whereby the regenerated elastomer has properties similar to a corresponding virgin elastomer. Steps (b) and (c) are carried out simultaneously or separatelty and steps (c) and (d) are carried out simultaneously or separately. A regenerated elastomer and its use are also disclosed.