The main source of several heavy metals and harmful chemicals is wastewater. Particularly freshwater reservoirs and natural waterbodies, a wider spectrum of heavy metals and hydrocarbons compromises the ecosystems and environment. Using conventional physicochemical techniques, heavy metal and hydrocarbon removal from water can only solve secondary effects and is far from essential or sustainable in its present form. Therefore, a paradigm change is required to overcome the present state-of- the-art in heavy metal and hazardous hydrocarbons removal from wastewater. A broad spectrum of aquatic plants and some big filamentous algae, aquatic macrophytes could help to remove or break down hazardous hydrocarbon compounds and heavy metals from wastewater. Large filamentous algae and aquatic plants have effective metabolic paths and key enzymatic cascades that help to break down and eliminate harmful chemicals and heavy metals from waste water. Nevertheless, the type of aquatic macrophytes, their physiological condition, and external environmental influences affect the efficiency of these several metabolic pathways and enzyme cascades in removing heavy metals and harmful hydrocarbons. Consequently, the present comprehensive review covers current updates on heavy metal and toxic hydrocarbon removal from wastewater using a variety of aquatic macrophytes while considering their physiological state, metabolic pathways, enzymatic cascades, and influence of other environmental factors.