Thermophilic fungi have often been proposed as magnificent sources, since, they grow in extremely harsh temperatures, ranging between 20-50 °C. They have ability to produce industrially germane thermo-resistant enzymes that can endure the austere environment of industrialized procedures, and have outspread mercantile acceptability in food, paper, feed, pulp and also in textile industries. The isolates of numerous thermophilic fungi are sources of biotechnologically valuable enzymes like pectinases, laccases, xylanases, phytases, proteases and cellulases etc., which display high levels of temperature tolerances up to a maximum range of 72 °C. Despite lesser-known knowledge about them, they have already aided humans in many ways and still have lot more to give. In the subsequent years, the utilization of thermostable enzymes is anticipated to escalate exponentially due to their role in biofuels. In this review I describe about their isolation from their respective habitat, production of thermostable enzymes and their applications in industry, which helped scientists to break through the field of Industrial Biotechnology.