Aquaculture is one of the fastest growing fields of global food production industry in recent years. To maintain the ecological health of aquaculture water body and the sustainable development of aquaculture industry, the treatment of aquaculture tail water (ATW) is becoming an indispensable task. This paper discussed the demand of environmentally friendly and cost-effective technologies for ATW treatment and the potential of algal-bacterial symbiosis system (ABSS) in ATW treatment. The characteristics of ABSS based technology for ATW treatment were analyzed, such as energy consumption, greenhouse gas emission, environmental adaptability and the possibility of removal or recovery of carbon, nitrogen and phosphorus as resource simultaneously. Based on the principle of ABSS, this paper introduced the key environmental factors that should be paid attention to in the establishment of ABSS, and then summarized the species of algae, bacteria and the proportion of algae and bacteria commonly used in the establishment of ABSS. Finally, the reactor technologies and the relevant research gaps in the establishment of ABSS were reviewed and discussed.