This review discusses bioreactor-based methods for industrial hydrocarbon-containing wastewater treatment using different (e.g., stirred-tank, membrane, packed-bed and fluidized-bed) constructions. Aerobic, anaerobic and hybrid bioreactors are becoming increasingly popular in the field of oily wastewater treatment, while high concentrations of petroleum hydrocarbons usually require physico-chemical pre-treatments. Most efficient bioreactor techniques employ immobilized cultures of hydrocarbon-oxidizing microorganisms, either defined consortia or mixed natural populations. Some advantages of fluidized-bed bioreactors over other types of reactors are shown, such as large biofilm–liquid interfacial area, high immobilized biomass concentration and improved mass transfer characteristics. Several limitations, including low nutrient content and the presence of heavy metals or toxicants, as well as fouling and contamination with nuisance microorganisms, can be overcome using effective inocula and advanced bioreactor designs. The examples of laboratory studies and few successful pilot/full-scale applications are given relating to the biotreatment of oilfield wastewater, fuel-contaminated water and refinery effluents.