High levels of heavy metals in the environment pose a significant risk to the aquatic ecosystem and its organisms. The non-biodegradable nature and lengthy persistence of heavy metals in the environment lead to toxicity in shrimp. Using aquatic animals as bio-indicators of metal contamination provides valuable data on acute and chronic toxicity in aquatic species and environmental quality. This review aims to provide insights into the sources, impacts, diseases and mitigation strategies related to heavy metal pollution in shrimp farming and the dangers to humans. Shrimp growth and development at each stage exhibit distinct responses to toxicity, which can vary depending on the species, types of metals, their mechanisms of action, as well as the concentration of heavy metals and duration of exposure. While several heavy metals are considered essential nutrient elements that enhance shrimp growth and feed efficiency, exceeding the maximum tolerable limit threatens shrimp health, human consumers, and ecological systems’ stability. Shrimp species subjected to lethal toxic metal concentrations experience significant effects on accumulation in histopathology. Heavy metal toxicity has been linked to high mortality rates, malformation rates, oxidative stress, moulting issues, and decreased reproduction with increasing concentrations in shrimp. Various methods have been reported for removing heavy metal ions from aquatic environments, including filtration, adsorbents, removal efficacy, operating conditions, and the pros and cons of each technique. Therefore, this review provides an overview of how heavy metals can affect shrimp physiology and dangers to consumers. It aims to increase awareness about the importance of preventing and regulating their contamination in aquatic environments.