Owing to various industrial applications of mercury (Hg), its release into the environment at high concentration is becoming a great threat to living organisms on a global scale. Human exposure to Hg is greatly correlated with contamination in the food chain through cereal crops and sea foods. Since Hg is a non-essential component and does not possess a biological role and exhibits carcinogenic and genotoxic behaviour, biomonitoring with a focus on biomagnification of higher living animals and plants is the need of the hour. This review traces the plausible relationship between Hg concentration, chemical form, exposure, bioavailability, bioaccumulation, distribution, and ecotoxicology. The toxicity with molecular mechanisms, oxidative stress (OS), protein alteration, genomic change, and enzymatic disruptions are discussed. In addition, this review also elaborates advanced strategies for reducing Hg contamination such as algal and phytoremediation, biochar application, catalytical oxidation, and immobilization. Furthermore, there are challenges to overcome and future perspectives considering Hg concentrations, biomarkers, and identification through the nature of exposures are recommended.