In many Baltic regions, short-rotation willow (Salix spp.) is used as a vegetation filter for wastewater treatment and recycling of valuable nutrients to upsurge bioeconomy development. In this context, a four-year field trial (2016–2019) was carried out near a wastewater treatment plant in eastern Finland (Outokumpu) to investigate the effect of the processed wastewater (WW) on biomass production as well as the nutrients uptake capability (mainly N and P) by a willow variety (Salix schwerinii). Results indicated that WW irrigation expressively increased the willow diameter growth and biomass yield around 256% and 6510%, respectively, compared to the control treatment site (without WW). The willow was also able to accumulate approximately 41–60% of the N and 32–50% of the P in two years (2018–2019). Overall, willow showed a total 20% mortality rate under WW irrigation throughout the growing periods (2017–2019) as compared to control (39%). The results demonstrate that willow has the potential to control eutrophication (reducing nutrients load) from the wastewater with the best survival rate and can provide high biomass production for bioenergy generations in cold climatic conditions.