Aquatic ecosystems play a crucial role in sustaining life and supporting key green and blue economic sectors globally. However, the growing population and increasing anthropogenic pressures are significantly degrading terrestrial water resources, threatening their ability to provide essential socioeconomic services. To safeguard these ecosystems and their benefits, it is critical to continuously monitor changes in water quality. Remote sensing technologies, which offer high-resolution spatial and temporal data over large geographic areas, including surface water bodies, have become indispensable for these monitoring efforts. They enable the observation of various physical, chemical, and biological water quality indicators, which are essential for assessing ecosystem health. Machine learning algorithms are well suited to handle the complex and often non-linear relationships between remote sensing data and water quality parameters. By integrating remote sensing with machine learning techniques, it is possible to develop predictive models that enhance the accuracy and efficiency of water quality assessments. These models can identify and predict trends in water quality, supporting timely interventions to protect aquatic ecosystems. This paper provides a thorough review of the major remote sensing techniques for estimating water quality indicators (e.g., chlorophyll-a, turbidity, temperature, total nitrogen and total phosphorous, dissolved organic, total suspended solids, dissolved oxygen, and hydrogen power). It examines how machine learning can improve water quality assessments. Additionally, it identifies key research gaps in current methodologies and suggests future directions to address challenges in water quality monitoring, aiming to improve the precision and scope of these critical efforts.