Concern over the harmful impacts of pollutants on human health and the environment has increased in recent decades due to their widespread presence in water resources. These pollutants include pesticides, poisonous textile dyes, and micropollutants. It is essential to remove these pollutants from wastewater to enhance the quality of water for industrial usage. Because of externally hydrophilic and internally hydrophobic qualities, cyclodextrin and its derivatives have shown great promise as adsorbents for the treatment of wastewater. While cyclodextrins cannot be used as adsorbents on their own due to their water solubility, they can be efficiently polymerized with different types of cross‐linkers to increase their stability and effectiveness. This review article examines chemically crosslinked materials based on cyclodextrin and its derivatives, utilizing various cross‐linkers such as epichlorohydrin, glutaraldehyde, citric acid, N,N′‐methylene bisacrylamide and maleic anhydride. These materials are evaluated for their effectiveness in adsorbing textile dyes, micropollutants, pharmaceuticals, and pesticides from wastewater. Additionally, this article provides a detailed explanation of adsorption kinetics, thermodynamics, and kinetic isotherms for the removal of contaminants. It also discusses the mechanism of contaminant adsorption, and reusability of adsorbents. Finally, this study delves into the challenges and exciting future prospects of CD‐based adsorbents, highlighting their potential to revolutionize wastewater treatment.