Lateral ankle sprain is a common injury in physically active individuals; for purposes of adequate recovery, it is important to clinically grade the severity of ankle sprains, and plan appropriate rehabilitation interventions. The risk of subsequent ankle sprains, chronic ankle pain, and ankle instability is significant, especially in elite athletes. Modern methods of rehabilitation are more aggressive; in addition to the rest, ice, compression, and elevation (RICE) protocols, early phased functional support and supervised exercise therapy are considered better for early recovery. This should include graded neuromuscular and proprioceptive exercises over during the recovery phase. Specialized ankle stability programs need to be considered for professional athletes, with special attention to individual risk factors that could predispose them to recurrent lateral ankle sprains. The management protocol for recurrent sprains, although similar, needs to be more aggressive depending on the extent of the injury, duration since the first injury, and the associated instability. Modern methods include computerized documentation and the use of robots to oversee rehabilitation protocols.