To mitigate the accumulation of water pollutants such as CODCr and NH3-N from cosmetic production wastewater in soil and biota, this study employs the immobilization technology of Phanerochaete chrysosporium to enhance the degradation efficiency of organic pollutants and NH3-N in cosmetic production wastewater. An 8% suspension of Phanerochaete chrysosporium, combined with a 4% polyvinyl alcohol (PVA) and 1% sodium alginate (SA) mixture, was used as the embedding material, and cross-linked in a 2% calcium nitrate solution for 2 h to obtain immobilized Phanerochaete chrysosporium beads. The effect of pH and organic pollutant concentration on the degradation of CODCr and NH3-N in cosmetic wastewater by the immobilized strain was investigated to optimize process conditions. When the organic pollutant concentration was 200 mg/L and pH was 5.8, the NH3-N removal rate was 98.40%, the CODCr removal rate reached 87.79% with pH value of 5.0. Compared to traditional methods, the immobilization technique using Phanerochaete chrysosporium significantly improves the removal rates of organic pollutants and NH3-N in cosmetic wastewater.