Constructed wetlands are wastewater treatment ecosystems composed of substrata, plants, microorganisms and water. We summarize herein recent research findings about nitrogen and phosphorus removal mechanisms in wastewater treated by constructed wetlands and the influencing factors, such as substrata, plants, microorganisms, hydraulic loads, temperature and dissolved oxygen. To increase the nitrogen and phosphorus removal efficiency and extend the fields of constructed wetland application, nitrogen and phosphorus removal mechanisms, influencing factors and techniques must be studied intensively in the future.