Mangroves have been increasingly recognized for treating wastewater from aquaculture, sewage and other sources with the overwhelming urbanization trend. This study clarified the three paradigms of mangroves in disposing wastewater contaminants: natural mangroves, constructed wetlands (including free water surface and subsurface flow) and mangrove–aquaculture coupling systems. Plant uptake is the common major mechanism for nutrient removal in all the paradigms as mangroves are generally nitrogen and phosphorus limited. Besides, sediments accrete and provide substrates for microbial activities, thereby removing organic matter and nutrients from wastewater in natural mangroves and constructed wetlands. Among the paradigms, the mangrove–aquaculture coupling system was determined to be the optimal alternative for aquaculture wastewater treatment by multi-criterion decision making. Sensitivity analysis shows variability of alternative ranking but underpins the coupling system as the most environment-friendly and cost-efficient option. Mangrove restoration is expected to be achievable if aquaculture ponds are planted with mangrove seedlings, creating the coupling system.