In recent years, because of rapid industrial growth and increase in the need for crude oil has led to the rapid increase in the contamination of water bodies. This has led to a dire requirement for sustainable and effective methods to clean these pollutants. Although traditional methods are available, they are mostly expensive and require skilled personnel. Meanwhile, phytoremediation and bioremediation have emerged as a new technique that can help to clean up these pollutants while being cost-effective. This review highlights the use of aquatic macrophytes as a source of phytoremediation, using both lower and higher plant groups and different methods to clean up the petroleum contamination in the wastewater. Moreover, it covers the recent progress made in phytoremediation techniques, emphasizing the capability of these organisms to clean the wastewater and contributing to the environmental sustainability.