Microplastics’ dangers and the absence of effective regulation technologies have risen to prominence as a worldwide issue in recent years. South Asian countries, such as Bangladesh, are among the most threatened nations to face the drastic consequence of releasing microplastics into the aquatic environment. The research on managing and degrading microplastics is ongoing, however, sustainable techniques have not yet been found. To create a green and efficient microplastic management plan, we have compiled all the information on the existing removal and degradation techniques for microplastics and provided an overview of all the noteworthy methods that can be implemented in Bangladesh. In the portrayed biotic and abiotic techniques, coagulation and photocatalysis were found to be most efficient in removing microplastics (as high as 99%) in different studies. The concept of microplastic is new to the researchers of Bangladesh, therefore, the characteristics, occurrence, fate, and threats are briefly discussed in this paper. Sampling, extraction, and identification methods of microplastic in freshwater and sediment samples are also thoroughly specified. The sources of microplastic pollution in Bangladesh and possible strategies that can be implemented to minimize additional microplastic discharge into aquatic environments are discussed. Although Bangladesh was the very first country to ban polythene, the failure of the implementation of rules and regulations and a lack of management strategy made Bangladesh the 10th worst country in managing plastic waste. This work is a wake-up call for other researchers to conduct an in-depth investigation to improve microplastic degrading technologies and develop a sustainable strategy to end microplastic pollution in Bangladesh.