This article discussed the effect of the main operating parameter involved in the operation of algal–bacterial granular sludge (ABGS) systems as promising biological processes for wastewater treatment. The focus was on the operational ranges reported in the literature capable of achieving better granule properties, good stability and high removal capacities. This review identified that hydraulic retention time (HRT), light intensity (LI) and light/dark periods were the most influential operating factors on the formation, stability, settleability and organic pollutant removal efficiency of ABGS. The discussion argued that ABGS systems enhance industrial and domestic wastewater treatment due to additional advantages that provide the symbiotic interactions to process performance, maintaining lesser operating costs concerning aerobic granular sludges (AGS) and microalgae consortia. This review will improve the understanding of the operation of ABGS systems and thus further expand possible operating combinations that help to enhance microbial interactions, microalgae growth and external aeration self‐sufficiency in further research with a focus on its scaling up.