The demand for technological and industrial change has become heavily dependent on the availability and use of petroleum products as a source of energy for socio-economic development. Notwithstanding, petroleum and petrochemical products are strongly related to global economic activities, and their extensive distribution, refining processes, and final routes into the environment pose a threat to human health and the ecosystem. Additional global environmental challenges related to the toxicological impact of air, soil, and water pollutants from hydrocarbons are carcinogenic to animals and humans. Therefore, it is practical to introduce biodegradation as a biological catalyst to address the remediation of petroleum-contaminated ecosystems, adverse impacts, the complexity of hydrocarbons, and resistance to biodegradation. This review presents the bioremediation of petroleum hydrocarbon contaminants in water and soil, focusing on petroleum biodegradable microorganisms essential for the biodegradation of petroleum contaminants. Moreover, explore the mineralization and transformation of complex organic and inorganic contaminants into other simpler compounds by biological agents. In addition, physicochemical and biological factors affecting biodegradation mechanisms and enzymatic systems are expanded. Finally, recent studies on bioremediation techniques with economic prospects for petroleum spill remediation are highlighted.