In the present review, we critically examine the state-of-the-art of the research on combined effects of trace metals and light on photosynthetic microorganisms in aquatic environment. Light of different intensity and spectral composition affects the interactions between trace metals and photosynthetic microorganisms directly, by affecting vital cellular functions and metal toxicokinetics and toxicodynamics, and indirectly, by changing ambient medium characteristics. Light radiation and in particular, the ultraviolet radiation component (UVR) alters the structure and reactivity of dissolved organic matter in natural water, which in most of the cases decreases its metal binding capacity and enhances metal bioavailability. The increase of cellular metal concentrations is generally associated with increasing light intensity, however further studies are necessary to better understand the underlying mechanisms. Studies on the combined exposures of photosynthetic microorganisms to metals and UVR reveal antagonistic, additive or synergistic interactions depending on light intensity, spectral composition or light pre-exposure history. Among the light spectrum components, most of the research was performed with UVR, while the knowledge on the role of high-intensity visible light and environmentally relevant solar light radiation is still limited. The extent of combined effects also depends on the exposure sequence and duration, as well as the species-specific sensitivity of the tested microorganisms and the activation of stress defense responses.