Adsorption performances of heavy metal ions (Pb2+, Cu2+, Zn2+ and Cd2+) and the common co-ions of alkali and alkali earth metal ions (Mg2+, Ca2+ and K+) on phosphoric acid modified bagasse were investigated in single and multi-component systems, and selective removal of heavy metal ions from wastewater were studied under different sorbent dosage. Results showed that the maximum amount of Pb2+, Cu2+, Zn2+, Cd2+, Mg2+, Ca2+ and K+ adsorbed on the modified bagasse was 0.77, 0.64, 0.49, 0.69, 0.47, 0.67 and 0.09 mmol/g, respectively, which was much higher than the unmodified bagasse. Heavy metal ions and co-ions adsorption could complete within 60 min, and their kinetic curves fitted well by the pseudo-second order model. Competitive adsorption results showed the modified bagasse had much higher affinity toward heavy metal ions than co-ions due to their ion characteristic. Waste water treatment experiment showed that at the sorbent dosage of 0.015 g, removal efficiency of Pb2+, Cu2+, Cd2+ and Zn2+ was 94.53, 92.74, 70.46 and 83.30% while that of Mg2+, Ca2+ was only 6.64 and 4.75%, respectively, demonstrating that heavy metals could be removed selectively from wastewater by the modified sorbent. The as prepared sorbent had great potential in heavy metal wastewater treatment.