The pulp and paper industry generates vast amounts of wastewater, and its character heavily depends on various factors (raw material, the undertaken process, the final product, etc.). The wastewater from this sector, which originates from several sources in each mill and are mostly combined, is polluting and hazardous. This paper presents a state-of-the-art review of the physical, chemical, biological, and advanced hybrid treatment techniques, concerning their effectiveness in removing specific pollutants, namely, chemical oxygen demand, lignin, color, and adsorbable organo-halogens. Throughout the manuscript, at the end of each section, a conclusive comparison has been presented and the proper method is introduced. Furthermore, numeric data regarding the effectiveness of each technique toward each pollutant are gathered from the literature and are available in the Supporting Information of the paper. Biological treatment processes using anaerobic–aerobic treatment mostly cure organic biodegradable contaminants (75–90% COD removal). Moreover, biological treatment using a consortium of microorganisms can potentially increase color removal efficiency (from 65 to 97%). Hybrid treatment is also among the candidates for color removal. To treat complex matters (lignin and AOX), physical and chemical treatments have shown promising performance, but they are generally expensive and impractical to treat huge amounts of wastewater. For the treatment of high molecular weight contaminants (lignin) advanced oxidation processes (AOPs), including ozonation and Fenton-based treatment, have shown great performance (90–99%); however, they are limited due to their maintenance and operation costs. To overcome these challenges, source separation of the wastewater streams in the pulp and paper industry is recommended. AOPs or membrane technologies or hybrid processes are suggested for the bleaching effluent (80% AOX removal), which is relatively low in amount, and a combination of conventional treatment processes would be preferred to treat wastewater streams that are more biodegradable. The biological performance can also be enhanced using granular activated carbon on the sequence. Finally, for treating black liquor, adsorption processes have proven to be the prime candidate.