The State Industries Promotion Corporation of Tamil Nadu Ltd (SIPCOT) Lake is never dry; it is always full of water and was recently used as a waste reservoir by the native peoples and industrialists. Thus, this investigation was performed to assess the quality of the lake water and evaluate the possible biosorption potential of Aspergillus flavus on this lake water sample through batch model biosorption study. The water quality parameters analyses revealed that the lake water has been polluted with number of contaminates which including organic and inorganic. The most of the parameters such as pH (9.5 ± 0.7), turbidity (38 ± 1.1 NT unit), TDS (2350.12 ± 31.24 mg L−1), BOD (40.21 ± 3.27 mg L−1), and COD (278.61 ± 11.84 mg L−1), Ca (212.85 ± 9.64 mg L−1), Fe (3.1 ± 0.8 mg L−1), NH3 (15.62 ± 0.5 mg L−1), NO3-(5.84 ± 0.14 mg L−1), Cl− (1257.85 ± 4.6 mg L−1),Cd (15.64 ± 0.29 mg L−1), Cr (6.86 ± 0.34 mg L−1), Pb (25.61 ± 3.41 mg L−1), and Hg (1.8 ± 0.024 mg L−1) content of water sample were beyond the acceptable limits. Fortunately, the A. flavus dead biomass showed considerable biosorption potential (Cd: 27.5 ± 1.1%, Cr: 13.48 ± 1.2%, Pb: 21.27 ± 1.5%, and Hg: 6.49 ± 0.86% in 180 min of contact time) than viable form on polluted lake water. Since, reduced the quantities of most of the parameters which beyond the permissible limit and also increased remarkable percentage of DO in the water sample in a short period of contact time. These findings suggest that A. flavus dead biomass can be used for bioremediation of polluted water in a sustainable manner.