In the last decades, the decrease in biological or chemical availability of sorbed contaminants as contact time passed, is generally accepted. This phenomenon so called as "aging" or "sequestration" is known to directly affect risk of the contaminats. This was observed for mainly for hydrophobic organic contaminants (HOCs), but also reported for heavy metals. Aging is known to be directly related to sorption-desorption hysteresis, irreversible sorption, desorption-resistance, nonequilibrium sorption, etc. The decrease in bioavailability due to aging or sequestration indicates realistic decrease in risk potential. Recently a risk-based management concept by scientific evidences but not the simple measurement of contaminant concentration has been attempted to determine environmentally acceptable remedial endpoint. This is because selection of remedial endpoint based on not total concentration but the bioavailability and toxicity of contaminants can reduce both the treatment cost and remedial activities of the contaminated sites. The bioavailability and toxicity of the residual contaminants are highly affected by the fate and transport and also directly affect the exposure pathways and bioaccumulation of contaminants in the living biota. In this paper, scientific feasibility on the risk-based clean-up and management of contaminated sites is reviewed.