The rapid development of the industrial sector has contributed significantly to the global economy and the well-being of individuals, while it has consequences in terms of waste generation, consumption of resources, and energy usage, which require the development of ad hoc strategies and countermeasures to contain their impacts. Covered are microbial bioremediation, bioleaching, bioaugmentation, biostimulation, mycoremediation, and phytoremediation. Among these biological remediation approaches, mycoremediation is beneficial since it can successfully break down a wide variety of contaminants and its efficacy is not restricted to specific concentrations of pollutants. Mycoremediation is a cost-effective and environmentally benign technology that uses fungal biomass to remove hazardous chemicals from polluted water. Mushrooms are fungal fruiting structures that grow from a fibrous mass known as the mycelium. Macro fungi have demonstrated a unique capacity to break down a variety of dangerous and lignin-containing wastes produced by a variety of anthropogenic and natural activities. This chapter establishes approaches that could serve as a prospective framework for addressing the worldwide issue of wastewater.