Use of dyes as well as colorants in industrial processes has extensively increased. Effluents from various industries such as textile, paint, food, etc. are reported to have a diverse range of colorants. The effluents from these industries are often released into natural water bodies, causing serious water and environmental pollution, to which humans and other species are constantly exposed. Continued changes in climate have also affected water availability for people around the world. Thus, advanced treatments and removal of harmful contaminants from municipal and industrial wastewater are becoming increasingly important. Removal of dyes and colorants from wastewater can be done in a variety of ways, including physical, chemical, and biological treatments. These technologies, however, differ in terms of efficiency, cost, and environmental effect. There are many technological and economic challenges for the wastewater treatment methods currently available. The search for the most suitable strategy for successful degradation or removal of dyes from effluents is an urgent requirement. Previously published research suggests that the use of enzymes for dye removal is a more economic and effective strategy as compared to traditional techniques. Nanoparticles, with their exceptional physicochemical features, have the potential to tackle the problem of wastewater purification in a less energy-intensive way. However, extensive standardization would be a necessity for the use of different nanoparticles. Therefore, intense research in the use of enzymes and nanoparticle-based technologies may provide much needed technological solution for the remediation of a diverse range of dyes from wastewater.