Innumerable private households and small-scale producers currently operate on polluted soils. Phytoremediation is one of the most cost-effective remediation options but as a stand-alone technology, it is often not lucrative enough to make it appealing for farmers, especially in economically vulnerable regions. Economic incentives are crucial for remediation projects to materialise and synergies can be obtained by integrating phytoremediation with other profitable activities including food production. This review aims to synthesise state-of-the-art scientific data to provide a general understanding of opportunities and risks for sustainable remediation of agricultural soil by the use of combined phytoremediation and food production (CPFP). The results show that strategies based on CPFP may be appropriate options for most pollutants in virtually all climatic or socioeconomic contexts but a number of challenges need to be surpassed. The challenges include remediation-technological issues such as undeveloped post-harvest technology and inadequate soil governance. The need for remediation solutions for polluted fields is increasingly urgent since many farmers currently operate on polluted land and the scarcity of soil resources as the human population continuously increases will inevitably force more farmers to cultivate in contaminated areas. We conclude that, although large scale CPFP has not yet reached technological maturity, appropriate combinations of soil types, plant species/cultivars, and agronomic practices together with thorough monitoring of the pollutants’ pathways can potentially allow for safe food production on polluted soil that restricts the transfer of a number of pollutants to the food chain while the soil pool of pollutants is gradually reduced.