Contamination of ground and surface water, soil, and air by harmful and carcinogenic chemicals is one of the most prevalent problems in the modern industrialized world. Heavy metal toxicity has demonstrated to be paramount hazardous and there are various risks associated with it. In addition, these heavy metals have adverse effects on human health and plant physiology. The field of bioremediation has undergone an impactful revolution in recent years due to an exponential increase in various issues related to soil and water pollution. Bioremediation is an advanced and efficient technology, which involves the use of biological means such as microorganisms and plants to degrade heavy metal contaminants. Among the millions of microbes present in the ecosystem, the highest metal adsorption ability is possessed by species belonging to genus Penicillium, Streptomyces, Bacillus, Rhizopus, Chlorella, Ascophyllum, Sargassum, and Aspergillus. Among different plant species, Allium, Eucalyptus, Helianthus, and Hibiscus are the main heavy metal absorbers. The present review concentrates on the research in the bioremediation of important heavy metals through the use of plants and microbes.