Biomass waste and wastewater are important wastes in the process of industrialization, which need to be effectively treated and utilized. In this work, an innovative method of collaborative treatment of biomass waste and phenol-containing wastewater is proposed. Biomass waste was used to produce activated carbon (AC), and then AC was used for phenol removal in wastewater treatment. Two kinds of typical biomass waste material, namely, coconut shell and lignin, were used. Physical activation (steam activation) and chemical activation methods were compared. Results show that steam activation is an effective method for coconut shell AC production. The largest Brunauer−Emmett−Teller (BET) surface area was 1065 m 2 /g at 800 °C. Chemical activation could produce AC samples with higher BET specific surface area. The lignin AC with K 2 CO 3 activation has the largest BET surface of 1723.8 m 2 /g at 800 °C. FTIR results indicated that K 2 CO 3 activation could greatly enhance the formation of surface oxygen-containing functional groups. Both coconut shell AC and lignin AC samples show excellent performance for phenol removal. The highest phenol removal efficiency for coconut shell AC and lignin AC are 96.87% and 98.22%, respectively. Adsorption kinetic analysis show that the pseudo-first-order kinetic model is able to describe the adsorption characteristics of phenol in wastewater treatment. Recycling properties show that regeneration of lignin AC could maintain high adsorption performance for phenol.