Despite the urgent need for alternatives to chemicals in plant protection, biological herbicides are not widely used as biofungicides and bioinsecticides. The review is devoted to connections between fungal biology, biochemistry, their ability to survive in extreme environment and development of effective mycoherbicides. Advanced studies on the production and stabilization of mycofungicides and mycoinsecticides were analyzed too in order to obtain ideas for the improvement of efficacy and technology of mycoherbicides in the future. The analysis of research data published within last 20 years showed following trends. First, more attention is paid for production both effective and stress tolerant propagules especially based on the submerged fungal mycelium and its modifications (blastospores, chlamydospores and microsclerotia). Second, the construction of bioreactors, in particular, for solid-state fermentation is continuously being improved that allows producing highly stress tolerant fungal aerial conidia. Third, based on studies of biochemical mechanisms of viability of fungi in extreme environment, the approaches of stabilization and storage of fungal propagules were developed. However, the positive reply to the question, if biopesticides including mycoherbicides, will become a serious alternative to agrochemicals, will be possible when they demonstrate stable efficacy in the field conditions and safety for both environment and end users.