The need for technical and industrial transformation has grown highly reliant on the accessibility and utilization of petroleum-based goods as an energy source for socio-economic progress. However, it is important to note that petrochemical and petroleum-based goods have a significant connection to worldwide economic operations. The widespread distribution, refining procedures, and ultimate pathways into the environment of these products present a potential danger to both human health and the ecology. Further worldwide environmental concerns arise from the toxicological effects of hydrocarbon pollutants on air, soil, and water, which have carcinogenic properties for both animals and humans. Hence, it is pragmatic to employ biodegradation using a biological catalyst to tackle the restoration of petroleum-contaminated ecosystems, mitigate unfavorable effects, deal with the intricate nature of hydrocarbons, and overcome resistance to biodegradation. This review explores the use of living organisms to eliminate petroleum hydrocarbon contaminants from water and soil, with a particular emphasis on microorganisms capable of degrading petroleum pollutants. It also examines the processes of mineralization and the transformation of complex organic and inorganic pollutants into simpler compounds through biological agents. Additionally, the review discusses the impact of physicochemical and biological factors on biodegradation mechanisms and enzymatic systems. Recent research on bioremediation strategies for addressing petroleum spills, highlighting their commercial potential, is also featured.