Mushrooms are a nutritionally, economically, and biotechnologically valuable group of organisms. They are packed with nutritional value in the form of low calories, high protein, and fiber contents. Besides being an important source of food, mushrooms are exploited by man in various ways. Mushrooms can be used in the pharmaceutical industry as antioxidant, anticancer, and immunomodulating agents. They are, at the same time beneficial for human beings and forests as nutrient recyclers in the form of natural decomposers. Mushrooms are also the best source to attain sustainable development goals set by the UNO. Food insecurity, malnutrition and pollution are some of the major issues faced by the modern world in the recent era. Mushrooms in the form of mushroom farming are a promising way to overcome these challenges. Mushroom farming is an efficient way for agroindustrial waste disposal and ensures food security. It is also the cheapest source to make up for the deficiency caused by malnutrition. It supports the local economy by providing more opportunities for livelihood and income by local and national trade. The present review emphasizes the comprehensive account of the different aspects of mushrooms exploitation by which it can save the planet earth and people living on it.