The presence of lead compounds in the environment is an issue. In particular, supply water consumption has been reported to be a significant source of human exposure to lead compounds, which can pose an elevated risk to humans. Due to its toxicity, the International Agency for Research on Cancer and the US Environmental Protection Agency (USEPA) have classified lead (Pb) and its compounds as probable human carcinogens. The European Community Directive and World Health Organization have set the maximum acceptable lead limits in tap water as 10 µg/L. The USEPA has a guideline value of 15 µg/L in drinking water. Removal of lead ions from water and wastewater is of great importance from regulatory and health perspectives. To date, several hundred publications have been reported on the removal of lead ions from an aqueous solution. This study reviewed the research findings on the low-cost removal of lead ions using different types of adsorbents. The research achievements to date and the limitations were investigated. Different types of adsorbents were compared with respect to adsorption capacity, removal performances, sorbent dose, optimum pH, temperature, initial concentration, and contact time. The best adsorbents and the scopes of improvements were identified. The adsorption capacity of natural materials, industrial byproducts, agricultural waste, forest waste, and biotechnology-based adsorbents were in the ranges of 0.8–333.3 mg/g, 2.5–524.0 mg/g, 0.7–2079 mg/g, 0.4–769.2 mg/g, and 7.6–526.0 mg/g, respectively. The removal efficiency for these adsorbents was in the range of 13.6–100%. Future research to improve these adsorbents might assist in developing low-cost adsorbents for mass-scale applications.