Raw, biologically treated bark and bark impregnated with transition metal ions were used to retain the lipids from synthetic emulsions. Several experimental parameters affecting the lipid removal efficiency (RE) were studied (initial concentration of lipids, temperature, time, pH, carboxylic acid chain length, etc.). Saturated bark was characterized using Fourier transform infrared (FTIR) spectroscopy and light microscopy, and the treated bark wetting index was determined. Results show that lipid removal can exceed 95% of the initial concentration at a pH lower than 7. The uptake of lipids by these sorbents varied from 0.2 to 2.5 g/g of dry bark. Trials for regenerating the sorbent saturated by lipids allowed the recovery of approximately 95% of lipids. The calorific value of the saturated bark was approximately 79% that of domestic fuel and can be considered as an energy source, thus avoiding its waste disposal. These results may upgrade the treatment of wastewater generated by several industrial sectors, such as the food industry, surface treatment, and so on.