Heavy metals from industrial effluent are major threat to environment because of their major toxicity effect. The treatment of metal contaminated wastewater is of special concern. This comprehensive review emphasis on the use of algae as the potential source of biosorbent, in this context variety of algae used by various researchers for the heavy metal biosorption is reviewed. The procedures for the biosorbent preparation, modification and their application towards the heavy metals were discussed. The effect of significant parameters in the metal biosorption process was presented. This review reports the biosorption isotherm and kinetic models, thermodynamic aspects of the metal biosorption by algae. The complex mechanisms of metal biosorption by algal presented along with the various instrumental techniques. It was evident from the literature survey that the algae demonstrated with excellent biosorption capabilities towards the removal of various toxic heavy metals.