AbstractLand degradation and soil contamination have become global problem due to irresponsible anthropogenic activities and the overutilization of natural resources by humans. Land degradation and contamination due to toxic heavy metals have adversely impacted not only crop productivity but also the overall environmental health of our planet. Mitigation and management of polluted land are urgently required to achieve the goal of sustainable development because of the continuous human population explosion. In recent years, the biodiversity under phytoremediation is gaining scientists' attention for utilizing polluted lands and obtaining a bio‐based economy aimed at economically valuable and nonedible native plants. In the present review, we have focused on the biodiversity prospecting and phytoremediation potentials of economically important native plants, which may open up new horizons for sustainable development and redevelopment of polluted land sites.