The textile industry is one of the most chemically intensive industries, and its wastewater is comprised of harmful dyes, pigments, dissolved/suspended solids, and heavy metals. The treatment of textile wastewater has become a necessary task before discharge into the environment. The textile effluent can be treated by conventional methods, however, the limitations of these techniques are high cost, incomplete removal, and production of concentrated sludge. This review illustrates recent knowledge about the application of floating treatment wetlands (FTWs) for remediation of textile wastewater. The FTWs system is a potential alternative technology for textile wastewater treatment. FTWs efficiently removed the dyes, pigments, organic matter, nutrients, heavy metals, and other pollutants from the textile effluent. Plants and bacteria are essential components of FTWs, which contribute to the pollutant removal process through their physical effects and metabolic process. Plants species with extensive roots structure and large biomass are recommended for vegetation on floating mats. The pollutant removal efficiency can be enhanced by the right selection of plants, managing plant coverage, improving aeration, and inoculation by specific bacterial strains. The proper installation and maintenance practices can further enhance the efficiency, sustainability, and aesthetic value of the FTWs. Further research is suggested to develop guidelines for the selection of right plants and bacterial strains for the efficient remediation of textile effluent by FTWs at large scales.