The simultaneous biological removal of COD, TN and phosphorus from meat industrial wastewater (MIW) using a lab‐scale high rate up‐flow anaerobic–anoxic–oxic bioreactor (A2O bioreactor) was investigated. The bioreactor was operated at different HRT, COD/TN ratio and aerated volume fractions to monitor the COD and nutrient removal efficiency. The maximum COD removal rate was detected at HRT of 5 h and COD/TN ratio of 100 : 12. The total nitrogen removal efficiency was changed between 65.8 and 94.4% and the lowest effluent nitrate concentration was measured as 1.6 mg/l. Seven kinetic models were applied to experimental data to determine the substrate utilization rate. The Monod and Haldane models were ideal to estimate the reactor performance. Moreover, the cost performance evaluation indicated the A2O bioreactor capability in low energy consumption for MIW treatment. According to the modeling results, integrating anaerobic and aerobic zones within a single bioreactor could be beneficial and cost‐effective due to the high effluent quality and low operational costs.