Trichoderma has been studied widely. It has been found to play a major role in agricultural production. Around the world scientists and farmers have taken advantage of this knowledge. It is reported to improve plant growth of many crops such as tomato, lettuce, maize, beans, cabbage sugarcane and many more crops. There are two broad categories where Trichoderma plays a major role which is its use as a biofertilizer as well as a biofungicide. Its use as a biofertilizer has been aggravated by its ability to produce volatile compounds, ability to solubilize phosphates making them available to the plant. Moreover, farmers use it as a biofertilizer because it improves the uptake of macro and micro nutrients by the plant. As a biofungicide, Trichoderma is not to control many pathogens from various crops. This includes the control of pathogens such as Rhizoctonia, Phytophthora, Rhizoctonia, Sclerotinia, Phythium, Fusarium, Sclerotinia species and Galumannomyces. The mechanisms used by Trichoderma as a biofungicide includes, antibiosis, mycoparasitism, competitive advantage in the rhizosphere as well as priming of the crop self-defense mechanisms. The purpose of this book chapter is to highlight the importance of Trichoderma in agriculture as a biofertilizer and biofungicide.