Due to their responsive behavior, high stability, and reusability, microgels have gained importance as adsorbents for the removal of aqueous pollutants such as heavy metals, nitroarenes, organic matter, and toxic dyes. However, there are few challenges that need to be addressed to make microgels as potential adsorbents for the removal of aqueous pollutants. This review article encircles the recent developments in the field of microgel usage as adsorbents for the extraction of aqueous pollutants. Many factors that influence the adsorption of pollutants such as pH, temperature of the medium, agitation time, pollutant concentration, microgel dose, and feed contents of microgels have been discussed in detail. Different adsorption isotherms as well as the kinetic and thermodynamic aspects of the adsorption process have also been enlightened to interpret the insight of the adsorption process. Microgel recovery from the reaction mixture as well as reusability is discussed from the financial point of view. The biodegradability of microgels induced due to the incorporation of specific biomacromolecules is also discussed.