If you don't want to toss it, you can ring your council, they're bound to have some recycling centres where you can bring things that can be recycled (or require special disposal) like scrap metal, used motor oil, coolant, batteries, broken or outdated computers, electronics, appliances, used paint and chemicals, etc.
From there you'll know whether its worth the trip...depends how far you have to drive. The fuel filter doesn't have much scrap metal in it. Whenever I have something like a used water pump or knackered CV joint, I take it to my recycling centre that's on the way to the supermarket.
There is probably a 'green' answer to this (like the ones above)
For years now, I have placed my old filters in a tun-dish and drained them into the waste oil tin, then when they are dry, put 'em in their own box and place 'em in the household waste bin.
I take the old oil to the recycling place, empty it into their tank and leave the container in a special bin that they have for that purpose.