The ever-growing water pollution evokes the inevitability of disinfection, especially by chlorination from decades, although the emergence of many carcinogenic disinfection by-products is a pronounced global concern. Among them, Trihalomethanes (THMs) and haloacetic acids (HAAs) are the predominant classes of Disinfectant by-products (DBPs) reported in the chlorinated water, occurred as more than the desired standard in many counties worldwide. The major challenges in the management of DBPs are the absence of regulatory standards, inconsistent monitoring, and lack of treatment feasibility. Apart from that, comprehensive overview on different treatment technologies and their comparative techno-commercial aspects highlighting cost effectiveness, energy efficiency, and optimized performance has rarely been documented. The present study emphasizes this significant research gap. Here, an insight into the reported global occurrence of THMs and HAAs, their health impact, and a comprehensive assessment of remediation strategies is represented with an extensive literature survey. Among the several techniques for precursor elimination of DBPs, nanofiltration membrane and Fenton process have shown maximum efficacy in terms of Dissolved organic carbon (DOC) removal. Among the advanced oxidation processes, UV/O₃ was found to have lowest electrical energy per order values indicating that it was the most energy efficient process for DOC degradation. The air stripping and activated carbon-based biodegradation system have exhibited promising performance for the removal of THMs and HAAs, respectively. The review may streamline the research need by presenting significant data on shelf, as well as it may guide the water engineers for efficient management of an undermined hazardous contaminant.