Europium recovery from wastewater is determined by its high significance for industry and toxicity for living organisms. The capacity of cyanobacteria Arthospira platensis (Spirulina) to remove Eu(III) through biosorption and bioaccumulation was evaluated. In biosorption experiments, the effects of four variables pH, metal concentration, time, and temperature on metal removal were stud-ied. In bioaccumulation experiments, the effect of Eu(III) concentrations on biomass bioaccumulation capacity and biochemical composition was assessed. The efficiency of Eu(III) uptake in both experiments was determined using ICP-AES techniques. Maximum biosorption of Eu(III) was achieved at pH 3.0. Equilibrium data fitted well with the Langmuir and Freundlich models, with maximum adsorption capacity of 89.5 mg/g. The pseudo-first-, pseudo-second-order, and Elovich models were found to correlate well with the experimental data. According to thermodynamic studies the sorption was feasible, spontaneous, and endothermic in nature. At addition of Eu(III) ions in the cultivation medium in concentrations of 10–30 mg/L, its accumulation in biomass was 9.8–29.8 mg/g (removal efficiency constituting 98–99%). Eu(III) did not affect productivity and content of carbohydrates and pigments in biomass but led to the decrease of the content of protein and an increase in the amount of MDA. The high Eu(III) biosorption and bioaccumulation efficiency of Arthrospira platensis may constitute an effective and eco-friendly strategy to recover it from contaminated environment.