In this study, a cyanobacteria-bacteria consortium containing native wastewater bacteria and immobilized Synechococcus sp. was constructed. The cyanobacterial cellular responses (including growth, biomass and lipid productivity) and contaminant removal ability (for TN, TP, COD and antibiotics) in the consortium were evaluated during the advanced treatment of wastewater containing 10–50 μg/L of mixed antibiotics (amoxicillin, tetracycline, erythromycin, sulfadiazine and ciprofloxacin) with the addition of a certain phytohormone (indole-3-acetic acid, gibberellin A3 or 6-benzylaminopurine) at trace level within a period of four days. Each phytohormone promoted the growth of Synechococcus sp. and increased the tolerance of Synechococcus sp. to mixed antibiotics. Indole-3-acetic acid coupled to moderate antibiotic stress could elevate lipid productivity and lipid content of Synechococcus sp. to 33.50 mg/L/day and 43.75%, respectively. Phytohormones increased the pollutant removal performance of the cyanobacteria-bacteria consortium through the stimulation of cyanobacterial growth and the regulation of cyanobacteria-bacteria interaction, which increased the abundances of microalgae-associated bacteria including Flavobacterium, Allorhizobium-Neorhizobium-Pararhizobium-Rhizobium, Bosea, Sphingomonas and Emticicia. Up to 80.83%, 98.06%, 83.26%, 99.84%, 99.50%, 89.41%, 65.61% and 60.65% of TN, TP, COD, amoxicillin, tetracycline, erythromycin, sulfadiazine and ciprofloxacin were removed by the consortium with the addition of phytohormones. In general, indole-3-acetic acid was the optimal phytohormone for enhancing lipid production and contaminant removal performance of the cyanobacteria-bacteria consortium.