Water pollution due to heavy metals has become a serious environmental concern due to their hazardous properties. Since conventional water remediation techniques are generally ineffective and non-environmentally friendly, phytoremediation has gained increasing attention from worldwide researchers and scientists due to its cost-effectiveness and environmental friendliness. Hence, this review first discussed soil and water remediations. Phytoremediation can be divided into five techniques to remove heavy metals from the polluted environment, namely, phytostabilization (phytosequestration), phytodegradation (phytotransformation), phytofiltration (rhizofiltration), phytoextraction (phytoaccumulation), and phytovolatilization. Four common floating aquatic plants (accumulator plants), such as duckweed (Lemna minor), water lettuce (Pistia stratiotes), water hyacinth (Eichhornia crassipes), and watermoss (Salvinia) were discussed in detail due to their great capability in absorbing the metal ions by their roots and further translocating the metal ions to the aerial parts. Furthermore, the parameter studies, such as optimum pH and temperature of the water, exposure duration, initial metal concentration, water salinity, and the addition of chelating agents, were evaluated. The absorption kinetics of the plants was discussed in detail. In short, phytoremediation is a promising green and sustainable water remediation approach. However, further research is necessary to enhance its practicability and performance at large-scale implementation.