The accumulation of toxic substances involving the inorganic and organic contaminants in the soil is a global problem. Status of the World's Soil Resources Report (SWSR) recognized soil pollution as one of the main reasons affecting global soils and the ecosystem services provided by them. However, transgenic approaches utilizing the biodegradation capabilities of microbes and mammals into plants pledge an efficient and eco-friendly approach to renewing the environment. An effective method of phytoremediation involves an enhanced rate of pollutant uptake by the plant, followed by the detoxification of the chemicals absorbed or translocated. It also involves the production of genetically modified herbicide-resistant plants for herbicide remediation and exploits the principles of biotechnology and molecular biology for the introduction and improvement of potentially superior genes into plants. This review discusses the various transgenic approaches involved in the phytoremediation of persistent organic pollutants, metals, metalloids, and explosives. Besides, it also focuses on the limitations of transgenics and provides an insight into the future potential of emerging biotechnological tools and techniques in this field.