Chitin production wastewater contains nutrient-rich organic and mineral contents. Coagulation of the wastewater with a natural coagulant such as by-product chitosan would be an economical and environmentally friendly method of treatment. This study investigated the treatment efficiencies of a preliminary sedimentation process followed by coagulation. The removal efficiencies for wastewater parameters were evaluated and compared for coagulants including by-product chitosan, polyaluminum chloride, and polyacryamide. The evaluation was based on the removal of wastewater turbidity and other criteria, including tCOD, sCOD, TKN, NH4+–N, TP, TSS, calcium, and crude protein. The results showed that the preliminary sedimentation (before coagulation) can remove over 80% of turbidity and more than 93% of TSS at pH 4 in 30 min. At optimal conditions, when the ratio of crude protein and calcium was 4.95, by-product chitosan dose of 77.5 mg·L−1 and pH = 8.3, the wastewater characteristics changes were tCOD 23%, sCOD 32%, TKN and ammonium 25%, TP 90%, TSS 84%, Ca2+ 29%, and crude protein 25%. The residue recovered through coagulation consists of up to 55 mg·g−1 crude protein, which is used for animal feed or crop fertilizer.