It is well-documented that large-scale pollution generated by human activity has a dramatic impact on ecosystems. In this context, removing harmful chemicals via photocatalysis has tremendous potential as a depollution method, utilizing freely available solar light and catalytic materials with low or negligible ecotoxicity. The main drawbacks, which aren’t often addressed in the available literature, are the formation of harmful intermediate products, low reaction rates, limited catalyst stability, and difficult catalyst recovery. In most cases, published works assess the efficiency of tested photocatalysts from pollutant degradation studies, whereas identifying and quantifying by-products is not often conducted. This review summarizes the recent advances reported for the photocatalytic removal of some organic (e.g., alcohols, carboxylic acids, volatile organic compounds, phenol) and inorganic (e.g., NO₃⁻) contaminants. The efficiency of various UV- and visible-light active photocatalysts and the reaction degradation pathways were explained, emphasizing the main factors contributing to their mineralization. The reaction mechanisms, the identification and quantification of degradation intermediates, and the implication of reactive active species (ROS) were discussed and analyzed for each category of model target pollutant. Additionally, the actual challenges and future photocatalytic approaches to improve environmental remediation were presented.