Plants and associated microorganisms are used to remediate anthropogenic metal(loid) contamination of water, soils and sediments. This review focuses on the potential of Arundo donax L. (Giant reed) for alleviating risks due to soils, water, and sediments contaminated by trace elements (TE), with emphasis on its advantages and limits over macrophytes and perennial grasses used for bioenergy and plant-based feedstock. Arundo donax is relevant to phytomanage TE-contaminated matrices, notably in its native area, as it possesses characteristics of large biomass production even under nutrient and abiotic stresses, fast growth rate, TE tolerance and accumulation mainly in belowground plant parts. Cultivating A. donax on contaminated lands and in constructed wetlands can contribute to increase land availability and limit the food vs. plant-based feedstock controversy. To gain more tools for decision-taking and sustainable management, further researches on A. donax should focus on: interactions between roots, TE exposure, and rhizosphere and endophytic microorganisms; biomass response to (a)biotic factors; sustainable agricultural practices on marginal and contaminated land; integration into local, efficient, energy and biomass conversion chains with concern to biomass quality and production; Life-Cycle Assessment including contaminant behavior, as well as environmental, agricultural and socio-economic benefits and drawbacks.