Azo dyes are the main group of dyes used in different industrial applications. These dyes are highly toxic for aquatic life, so their removal is of utmost importance before they can be disposed of in a main water body. The present study focused on degrading/mineralizing the synthetic reactive dye wastewater. Initial experiments were done with four indigenous white rot fungi. P. chrysosporium (PC) showed more potential toward degradation of synthetic dye wastewater than other three fungal strains, so it was selected for further optimization of different fermentation parameters. Maximum decolorization (84.8%) of reactive dye wastewater was obtained at pH 5, inoculum size 4 mL, and 30ºC. After optimizing experimental parameters, the effects of different nutritional factors like carbon and nitrogen sources were also studied. Decolorization of synthetic dye wastewater was increased from 84.8 to 89.2%, when rice bran was used as an additional carbon source. However, no increase in decolorization of synthetic dye wastewater was observed in the presence of nitrogen supplements. The screened fungal strain decolorized the wastewater up to 90%. The effect of different nutritional factors enhanced the degradation capability of the fungal strain under study. UV-visible and FTIR analyses confirmed the degradation of synthetic dye wastewater into simpler, non-toxic products.