Biochar (BC) is a carbon-rich material produced from pyrolysis of biomass. In addition to its low toxicity, environmental compatibility, and low cost, BC has the desired advantages of well-developed mesoporous structure and abundant surface functional groups. In recent years, BC-based photocatalysts (BCPs) have played a significant role in many environmental fields. In this paper, we highlight the current progress and several exciting results of BCPs by focusing on their synthesis, characterization, mechanisms, and applications in wastewater treatment. Details on various preparation methods include sol–gel, hydrothermal/solvothermal, ultrasound, calcination, and in situ methods are summarized and discussed. The underlying mechanisms and the applications of BCPs for different semiconductors are reviewed. Furthermore, some future trends and potentials are outlined.