The present invention relates to improved wastewater treatment systems and methods. In one embodiment, the present invention utilizes microbial consortia and the final effluent of the treated wastewater is remarkably clean, and has low levels of hazardous chemicals, unwanted nutrient values and/or total solids. Advantageously, the wastewater treatment system and method of the present invention reduces the use of chemical compounds in the treatment process. Further, valuable biomasses can be produced from the wastewater using the treatment process of the present invention.