Commercialization in the meat-processing industry has emerged as one of the major agrobusiness challenges due to the large volume of wastewater produced during slaughtering and cleaning of slaughtering facilities. Slaughterhouse wastewater (SWW) contains proteins, fats, high organic contents, microbes, and other emerging pollutants (pharmaceutical and veterinary residues). It is important to first characterize the wastewater so that adequate treatment techniques can be employed so that discharge of this wastewater does not negatively impact the environment. Conventional characterization bulk parameters of slaughterhouse wastewater include pH, color, turbidity, biochemical oxygen demand (BOD), chemical oxygen demand (COD), total organic carbon (TOC), total suspended solids (TSS), total nitrogen (TN), total phosphorus (TP), and coliform counts. Characterization studies conducted have revealed the effects of the pollutants on microbial activity of SWW through identification of toxicity of antibiotic-resistant strains of bacteria. Due to the high-strength characteristics and complex recalcitrant pollutants, treatment techniques through combined processes such as anaerobic digestion coupled with advanced oxidation process were found to be more effective than stand-alone methods. Hence, there is need to explore and evaluate innovative treatments and techniques to provide a comprehensive summary of processes that can reduce the toxicity of slaughterhouse wastewater to the environment. This work presents a review of recent studies on the characterization of SWW, innovative treatments and technologies, and critical assessment for future research.