Anaerobic membrane bioreactors (AnMBRs) represent an innovative approach to wastewater treatment, combining anaerobic digestion with membrane filtration to achieve efficient organic pollutant removal and resource recovery. This review critically examines the potential of AnMBRs in wastewater treatment, highlighting their principles, advantages, challenges, recent advancements, and future prospects. AnMBRs offer several advantages over traditional aerobic treatment methods, including higher organic loading rates, reduced energy requirements, and biogas production through methane generation. However, challenges such as membrane fouling, reactor complexity, and operational costs have limited their widespread adoption. Recent advancements in membrane materials, fouling mitigation strategies, and process optimization have improved AnMBR performance and feasibility. Novel membrane materials with enhanced fouling resistance and durability have been developed, while innovative cleaning techniques and operational protocols have been implemented to mitigate membrane fouling and prolong membrane lifespan. Process optimization strategies, including reactor design modifications and operational parameter adjustments, have enhanced treatment efficiency and reduced energy consumption in AnMBRs. Future research directions in AnMBR technology focus on optimizing reactor configurations, exploring novel membrane materials and fouling control strategies, and conducting comprehensive techno-economic assessments to evaluate the environmental and economic sustainability of AnMBRs. Integration of AnMBRs with emerging technologies such as membrane distillation, forward osmosis, and bioelectrochemical systems holds promise for further enhancing treatment performance and resource recovery capabilities. Additionally, addressing knowledge gaps in membrane fouling mechanisms, microbial community dynamics, and long-term system stability is crucial for advancing AnMBR technology and facilitating its widespread implementation in wastewater treatment. Overall, AnMBRs offer significant potential for sustainable wastewater treatment, providing opportunities for organic pollutant removal, energy recovery, and resource reuse. By addressing technical challenges, optimizing process parameters, and conducting interdisciplinary research, AnMBRs can contribute to the development of efficient, cost-effective, and environmentally friendly wastewater treatment solutions, ultimately supporting the goal of achieving cleaner water resources and a more sustainable future.