Water pollution by heavy metals represents a significant threat to both the environment and public health, with a pronounced risk of stomach cancer and fatalities linked to the consumption of heavy metal-contaminated water. Consequently, the need for effective governance in heavy metal remediation is paramount. Employing a comprehensive review of the existing literature, this study delves into prevalent governance models, including state-centric governance, market governance, network governance, and voluntary governance. The primary objective of this research is to pinpoint the optimal framework for heavy metal remediation and the most efficient governance model. Through an analysis informed by the simplified Multi-Criteria Decision Analysis (MCDA) method, this study presents key findings, offering valuable insights for policymakers, environmental agencies, and industries seeking holistic strategies to combat heavy metal pollution and alleviate its detrimental consequences. These findings significantly contribute to the ongoing global efforts to safeguard the environment, enhance public health, and mitigate the adverse impacts of heavy metal contamination.