With the development of industry, the industrial wastewater output has been increased over time. However, the refractory and toxic organic compounds in industrial wastewater restrict the treatment efficiency significantly. Based on the co-metabolism theory of microorganisms, the addition of readily biodegradable organic substrates has been successfully employed to improve the removal efficiency of refractory organic compounds. However, the readily biodegradable organic substrates used in practical wastewater treatment process mainly come from the artificial addition of commercial carbon sources, which would increase the operating cost and emit a large amount of carbon. Mixing some wastewater rich in readily biodegradable organic substrates with refractory organic wastewater may be a good strategy, which can not only improve the refractory organic treatment efficiency, but also realize the wastewater recycling. This paper reviews the characteristics and hazards of industrial wastewater, research statues of co-metabolism mechanisms, and focuses on the research and application cases of mixed treatment of wastewater, including food wastewater, textile wastewater, paper making wastewater, some pharmaceutical wastewater, domestic sewage and wastewater in the industrial park. Meanwhile, this paper proposes the prospects and challenges of wastewater mixed treatment, as well as its future development. The aim of this paper is to provide guidance for the wastewater mixed treatment technology application, green and low-carbon industrial park construction, in order to achieve green and low-carbon wastewater treatment.