Trace elements (TEs) occur at low concentrations (<1000 mg kg ⁻¹) in organisms, yet they have a large biological effect, both as essential nutrients and environmental contaminants. Phytomanagement describes the manipulation of soil-plant systems to affect the fluxes of TEs in the environment with the goal of remediating contaminated soils, recovering valuable metals, or increasing micronutrient concentrations in crops. Phytomanagement includes all biological, chemical, and physical technologies employed on a vegetated site. Successful phytomanagement should either cost less than other remediation or fortification technologies, or be a profitable operation, by producing valuable plant biomass products. This may include bioenergy or timber production on contaminated land, a practice that does not reduce food production. We review the components of phytomanagement and the underlying biogeochemical processes, with a view to elucidating situations where this technology may be successfully applied and identifying future research needs. Many full-scale operations have proved the efficacy of plants to reduce contaminant mobility in soils (phytostabilization), particularly when used in combination with other technologies. As a stand-alone technology, the oft-touted use of plants to extract TEs from contaminated soils (phytoextraction) or low-grade ore bodies (phytomining) is unsuitable for most, if not all, sites due to low-extraction rates and problems caused by site heterogeneity, the limited rooting depth of plants and the presence of contaminant mixtures. Unsubstantiated claims about phytoextraction have tarnished the reputation of all “phyto” technologies. Nevertheless, phytoextraction, as part of a larger environmental toolkit, has a role in phytomanagement. The growth, or lack thereof, of profitable companies that provide phytomanagement will indicate its value. A critical knowledge gap in phytomanagement is the integration of the processes that affect plant–TE interactions and the biophysical processes affecting TE fluxes in the root zone, especially the effect of roots on contaminant fluxes.