The serious limitations of available technologies for decontamination of wastewater have compelled researchers to search for alternative solutions. Catalytic treatment with hydrogen peroxide, which appears to be one of the most efficient treatment systems, is able to degrade various organics with the help of powerful ·OH radicals. This review focuses on recent progress in the use of bicarbonate activated hydrogen peroxide for wastewater treatment. The introduction of bicarbonate to pollutant treatment has led to appreciable improvements, not only in process efficiency, but also in process stability. This review describes in detail the applications of this process in homogeneous and heterogeneous systems. The enhanced degradation, limited or lack of leaching during heterogeneous degradation, and prolonged catalysts stability during degradation are salient features of this system. This review provides readers with new knowledge regarding bicarbonate, including the fact that it does not always harm pollutant degradation, and can significantly benefit degradation under some conditions.