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Mushrooms and algae have been consumed since ancient times because of their culinary and gastronomic attributes. Both are important dietary sources of bioactive compounds including essential minerals, vitamins, complete profile of amino acids and are valuable source of dietary fibres. They are low in calorie content because of negligible amount of fats and carbohydrates. Beyond the excellent nutrition profile of these superfoods, they also belong to the category of nutraceuticals which provide medicinal benefits along with meeting daily dietary requirements. Bioactive compounds present in them are an interest of research because of anti-cancerous, antimicrobial, antiviral, antioxidant, hypoglycemic and immunomodulatory activities. These microorganisms are easy to grow on varied substrates therefore cost effective and eco-friendly that gives a great advantage over synthetic super foods obtained from animal origin. The current review focusses on the nutritional and medicinal value with importance of mushrooms and algae as a super food. Review also discusses about the toxicity associated with mushrooms along with the current status in trends of production, cultivation and consumption of fungi and algae based foods in different countries and offers thoughts on course.