The rich metabolism of the fungal strains, now classified as Fusarium fujikuroi and related species covers the production of many secondary products, including different terpenoids and polyketides. Research has concentrated on the gibberellins, growth-promoting plant hormones with multiple applications in agriculture and brewing. The long list of secondary metabolites includes pigments such as carotenoids and bikaverins, mycotoxins such as fusarins and fumonisins and a diversity of other compounds, many of them still being unidentified. This review describes the chemical structures of the secondary metabolites identified in these fungi, with special attention to the terpenoids and particularly to the gibberellins, and summarizes knowledge on the biosynthesis of gibberellins, its regulation and its relation to those of other metabolites.