This review has four major objectives: I) to present the problem of phthalate pollution, II) to highlight common techniques for quantification of phthalate compounds in water, III) to summarize current trends in determination of phthalates toxicity and point out the major adverse effects, and IV) to discuss and critically compare modern approaches in purification of phthalate-polluted water samples and thus reveal the further perspectives. Phthalates are organic compounds that are used extensively as additives in plastics and personal care products. They have high leaching potential and, therefore, they have been detected in various environments, including aquatic environments. Concentrations of phthalates in water are generally low, so their determination usually requires preconcentration. However, phthalates are compounds with very high hazardous potential. Related toxicity studies have been focused mainly on long-term exposures, and the results have shown that phthalates mainly affect the endocrine and reproductive systems. Therefore, phthalates have become a global concern. Their removal from the environment not only ensures environmental protection, but the protection of human health as well. Among various presented approaches for phthalates removal, anaerobic biodegradation has shown the highest potential for further developments because it is a promising technology for using wastewater as a source of green energy.