Heavy metal pollution in water emerges as a severe socio-environmental problem originating primarily from the discharge of industrial wastewater. In view of the toxic, non-biodegradable, and persistent nature of most of the heavy metal ions, remediation of such components becomes an absolute necessity. Biosorption is an emerging tool for bioremediation that has gained momentum for employing low-cost biological materials with effective metal binding capacities. Even though biological materials possess excellent metal adsorption abilities, they show poor mechanical strength and low rigidity. Other disadvantages include solid–liquid separation problems, possible biomass swelling, lower efficiency for regeneration or reuse, and frequent development of high pressure drop in the column mode that limits its applications under real conditions. To improve the biosorption efficiency, biomasses need to be modified with a simple technique for selective/multi-metal adsorption. This review is intended to cover discussion on biomass modification for enhanced biosorption efficiency, mechanism studies using various instrumental/analytical techniques, and future direction for research and development including the fate of spent biosorbent. In most of the previously published researches, difficulty of the process in scaling up has not been addressed. The current article outlines the application potential of biosorbents in the development of hybrid technology integrated with membrane processes for water and wastewater treatment in industrial scale.