Biosorption has great potential in removing toxic effluents from wastewater, especially heavy metal ions such as cobalt, lead, copper, mercury, cadmium, nickel and other ions. Mathematically modeling of biosorption process is essential for the economical and robust design of equipment employing the bioadsorption process. However, biosorption is a complex physicochemical process involving various transport and equilibrium processes, such as absorption, adsorption, ion exchange and surface and interfacial phenomena. The biosorption process becomes even more complex in cases of multicomponent systems and needs an extensive parametric analysis to develop a mathematical model in order to quantify metal ion recovery and the performance of the process. The biosorption process involves various process parameters, such as concentration, contact time, pH, charge, porosity, pore size, available sites, velocity and coefficients, related to activity, diffusion and dispersion. In this review paper, we describe the fundamental physical and chemical processes involved in the biosorption of heavy metals on various types of commonly employed biosorbents. The most common steady state and dynamic mathematical models to describe biosorption in batch and fixed-bed columns are summarized. Mathematical modeling of dynamic process models results in highly coupled partial differential equations. Approximate methods to study the sensitivity analysis of important parameters are suggested.