There are many previous review articles are available to summarize either the characterization methods of effluent organic matter (EfOM) or the individual control treatment options. However, there has been no attempt made to compare in parallel the physicochemical treatment options that target the removal of EfOM from biological treatments. This review deals with the recent progress on the characterization of EfOM and the novel technologies developed for EfOM treatment. Based on the publications after 2010, the advantages and the limitations of several popularly used analytical tools are discussed for EfOM characterization, which include UV-visible and fluorescence spectroscopy, Fourier transform infrared spectroscopy (FTIR), size exclusion chromatography (SEC), and Fourier transform-ion cyclotron resonance-mass spectrometry (FT-ICR-MS). It is a recent trend to combine an SEC system with various types of detectors, because it can successfully track the chemical/functional composition of EfOM, which varies across a continuum of different molecular sizes. FT-ICR-MS is the most powerful tool to detect EfOM at molecular levels. However, it is noted that this method has rarely been utilized to understand the changes of EfOM in pre-treatment or post-treatment systems. Although membrane filtration is still the preferred method to treat EfOM before its discharge due to its high separation selectivity, the minimum requirements for additional chemicals, the ease of scaling up, and the continuous operation, recent advances in ion exchange and advanced oxidation processes are greatly noteworthy. Recent progress in the non-membrane technologies, which are based on novel materials, are expected to enhance the removal efficiency of EfOM and even make it feasible to selectively remove undesirable fractions/compounds from bulk EfOM.