A review is designed to innovate a sustainable solution for the treatment of mine tailings using bioremediation and phytoremediation. It emphasizes on achieving the geochemical stability of tailings through the establishment of microbes or plants. It highlights the gaps in achieving the geochemical stability of tailings. Lack of nutrients and low pH discourage the survival of microorganisms and the growth of plants on tailings. Treatment of tailings with agricultural waste (wheat and mustard stalks) would nourish tailings which promote the growth of microorganism and plants. Application of agricultural waste in remediation process is cost-effective. The role of microorganisms such as cyanobacteria, fungi, and algae are well known for mineralogical transformation. Microorganism converts unavailable fraction of nutrient into available form and important initiative to drive tailings towards natural soil. It would support the growth of plants on tailings to achieve successful phytoremediation. Biofuel generation from tailings through high lipid and protein producing plants is important for sustainable development. Phytoremediation will reduce the environmental impact caused by mine tailings. For phytoremediation, use of biofuel producing plants, i.e., Jatropha curcus and Brassica juncea, is recommended.