Municipal wastewater from various sources including large and small industries, laundries, and residential areas has become a significant challenge for sanitation and the upkeep of smart and green cities. Over the past decade, numerous technologies and processes have been developed for the recycling and purification of wastewater. There is a growing focus on advanced microbial-based technologies that facilitate both wastewater treatment and the simultaneous recovery of resources, such as bioenergy, biofuels, and other valuable compounds like organic acids, fatty acids, bioplastics, biopesticides, biosurfactants, and bio-flocculants. In recent decades, considerable progress has been made in bioprocesses and techniques aimed at extracting and recovering these valuable substances from wastewater, waste biomass, or sludge. This chapter explores diverse approaches for recovering renewable resources from municipal wastewater, highlighting the role of biotechnological methods in this endeavor. We examine various renewable resources, including nutrients, organic matter, water, and energy, and showcase innovative technologies such as microbial processes, algal bioengineering, and biochemical methods. Additionally, we discuss the production of value-added products, including biofertilizers, biopolymers, and biofuels, supported by successful case studies from municipal and industrial settings. We also address the challenges and limitations related to resource recovery, including technical, economic, regulatory, and public acceptance issues. Finally, we highlight future perspectives, underscoring the significance of biotechnological advancements, the integration of circular economy principles, and the global potential for implementing these innovative practices.