Petroleum refinery wastewater (PRW) contains high concentrations of hydrocarbons, heavy metals, phenols, and nutrients such as nitrogen and phosphorus, posing significant environmental and public health risks. Untreated or inadequately treated PRW can cause eutrophication, toxicity to aquatic organisms, and adverse effects on human health. This study evaluates the application of sequencing batch reactor (SBR) technology as an efficient and adaptable biological treatment method for PRW. SBR systems operate through time-controlled cycles, enabling the simultaneous removal of organic and inorganic pollutants within a single reactor, thus eliminating the need for secondary clarification. A comprehensive review of recent literature highlights SBR’s effectiveness in treating petroleum-based effluents, achieving removal efficiencies exceeding 90% for chemical oxygen demand (COD), biochemical oxygen demand (BOD), ammonium (NH₄⁺), phenols, oils, and total petroleum hydrocarbons (TPH). Furthermore, this study examines strategies for enhancing nutrient removal, specifically nitrogen and phosphorus, via optimized microbial processes and discusses key operational parameters affecting treatment performance. Despite challenges such as sludge bulking, toxic shocks, and membrane fouling, integrating SBR with advanced treatment methods including reverse osmosis, sonication, and advanced oxidation processes can significantly enhance overall treatment outcomes. The findings underscore SBR technology as a promising, scalable, and cost-effective solution for the sustainable management of petroleum refinery wastewater.