Polyacrylamide (PAM) floculents are widely used in water treatment, mineral processing, and other industrial fields due to their excellent solid-liquid separation performance. However, with the increasing emphasis on environmental protection, the potential environmental risks of PAM floculents have attracted widespread attention. This paper reviews the degradation mechanisms of PAM floculents in the environment, including physical degradation, chemical degradation, and biological degradation. It also discusses the transfer processes of PAM and its degradation products in water bodies, sediments, and soil. Furthermore, the impacts of PAM floculents and their degradation products on aquatic ecosystems, including effects on aquatic organisms, water quality, and ecological balance, are analyzed. Finally, the research gaps and future research directions in this field are proposed, aiming to provide a scientific basis for the safe application of PAM floculents and the protection of aquatic ecosystems.