In recent decades, bioremediation using white rot fungi (WRF) has become an attractive alternative for the removal of xenobiotics from water. However, WRF are aerobic microorganisms whose degradative capacity may be reduced when operating in oxygen-restricted environments. This work determines the limiting dissolved oxygen level of Trametes versicolor in terms of degradation of two target micropollutants: bentazon and tributyl phosphate. When the dissolved oxygen concentration was set below 15 % saturation (1.3 mg O2·L−1), the results revealed a considerable decrease in degradation capacity and laccase synthesis. Hence, 15 % dissolved oxygen was established as a reference value of aerobic conditions to assess dissolved oxygen profiles in both a rotating drum bioreactor (RDB) and a fixed-bed bioreactor (FBB). Restrictive oxygen conditions were achieved after an operating period of 24 h in the RDB and an empty bed contact time of 44 min in the FBB. In addition, growth kinetics on Q. ilex wood and organic matter removal (in terms of COD) were studied, obtaining 0.059 mg ergosterol·g wood DW−1·day−1 and 16.23 mg O2·L−1·h−1, respectively. Therefore, T. versicolor has demonstrated a remarkable ability to assimilate complex carbon sources and a high micropollutant degradation activity, especially when operating in non-limiting oxygen regimes.