Current study had made a significant progress in microalgal wastewater treatment through the implementation of an economically viable polyethylene terephthalate (PET) membrane derived from plastic bottle waste. The membrane exhibited an exceptional pure water flux of 156.5 ± 0.25 L/m2h and a wastewater flux of 15.37 ± 0.02 L/m2h. Moreover, the membrane demonstrated remarkable efficiency in selectively removing a wide range of residual parameters, achieving rejection rates up to 99%. The reutilization of treated wastewater to grow microalgae had resulted in a marginal decrease in microalgal density, from 10.01 ± 0.48 to 9.26 ± 0.66 g/g. However, this decline was overshadowed by a notable enhancement in lipid production with level rising from 181.35 ± 0.42 to 225.01 ± 0.11 mg/g. These findings signified the membrane's capacity to preserve nutrients availability within the wastewater; thus, positively influencing the lipid synthesis and accumulation within microalgal cells. Moreover, the membrane's comprehensive analysis of cross-sectional and surface topographies revealed the presence of macropores with a highly interconnected framework, significantly amplifying the available surface area for fluid flow. This exceptional structural attribute had substantially contributed to the membrane's efficacy by facilitating superior filtration and separation process. Additionally, the identified functional groups within the membrane aligned consistently with those commonly found in PET polymer, confirming the membrane's compatibility and efficacy in microalgal wastewater treatment.