The eutrophication phenomenon is one of the main challenges regarding the ecological quality of surface waters, caused mainly by leaching of fertilizer from agriculture and by discharge of wastewater containing high amounts of phosphorus. This is a global environmental problem, which does not have yet a suitable solution. European Union developed and is implementing the Water Framework Directive (WFD-2000/60/EC), which requires the restoration of eutrophic water bodies quality until 2015; however, derogations have been claimed when eutrophication is the main pressure due to the complexity into recovery the degraded waters. In this context, this review aims to give a general overview of the historical evolution of phosphorus, its uses and consequently its role on eutrophication. Moreover, the main methodologies and some commercial products used for phosphorus precipitation are discussed. Since the main treatments focus on phosphorus precipitation, the scarcity of this mineral source is pointed out. More than an overview, this review leaves the question how many more years do we have enough mineral phosphorus reserves to guarantee enough food production.