Due to industrial growth and its impact on the environment, the increasing amount of industrial waste requires a comprehensive approach aligned with the principles of sustainable development. The main goals are not only to preserve natural resources but also to encourage innovation in the reuse of waste materials. In an attempt to reduce the problems regarding waste disposal and wastewater treatment in the textile industry, fibrous textile waste was used as a starting material to obtain carbon adsorbents for the removal of pollutants from wastewater. Waste cotton and mixed yarns, mainly consisting of polysaccharide cellulose, were hydrothermally carbonized and activated with KOH to convert them into efficient carbon adsorbents for heavy metal removal from water. Characterization of carbonized material showed that after activation, an increase in specific surface area (up to 872 m²/g) and content of surface oxygen groups (6.04 mmol/g) leads to a higher affinity towards heavy metal ions, especially lead ions, and high adsorption capacity of 19.98 mg/g obtained for activated cotton yarns. The results of this research represent a contribution to the reduction of waste materials by modifying them into adsorbents, while the regeneration of adsorbents is an example of the practical application of polysaccharide-based materials in the purification of wastewater containing various heavy metal ions.