Remediating radioactive waste from wastewater is a major environmental problem that requires economical and environmentally sound solutions. The potential of low-cost biotechnological methods using microalgae to remediate radioactive elements from wastewater is explored. Because of their exceptional ability to bioaccumulate, biotransform, and adsorb, microalgae are considered natural agents that can reduce radioactive pollutants found in wastewater. Their capacity to absorb, concentrate, and possibly even detoxify radioactive materials is a result of their distinct biochemical pathways, which makes them suitable for environmental remediation. This analysis emphasizes the potential for resource recovery and the capacity of microalgae to sequester pollutants, highlighting current developments in the use of these algae for radioactive waste treatment. Aiming to maximize remediation efficiency while minimizing costs, strategies to optimize microalgae strains, growing techniques, and integration with complementing technologies are existing. The numerous uses of microalgae biomass, such as the manufacturing of biofuel, dietary supplements, and pharmaceuticals, are also described, demonstrating the commercial feasibility of these biotechnological methods. Even though scalability, cost-effectiveness, and regulatory compliance remain obstacles, further research and cooperative efforts show promise for the creation of scalable, long-lasting, and financially viable microalgae-based solutions for radioactive waste cleanup. In summary, low-cost biotechnological methods that take advantage of microalgae’s natural qualities provide a hope for resolving the complicated problems of radioactive waste in wastewater and show the way toward a more sustainable, greener, and cleaner future.