In recent years, a surge of interest was observed in synthesizing nanoparticles and other highly structured nanomaterials using microbes. Plenty of reports in cited domain claims synthesis of nanomaterials with desired shape, size and architecture through fungi, bacteria and actinomycetes. More precisely, fungi are frequently reported for their pivotal potential in bioreduction of the aqueous metal ions into their respective nanomaterials. The sporadic reports of nanomaterial synthesis from fungi led to the development of 'myconanotechnology' as a new domain of nanotechnology. This newly emerging domain of nanotechnology attracts not only the microbiologist but also material chemists and technologists, because of safe, sustainable and non-toxic 'green chemistry' associated with it. There is possibility of getting a total control over shape and size in a microbial system more easily than chemical methods. So far, a number of fungal strains have been reported for this potential among which some most common are Aspergillus , Fusarium , Colletotrichum , Penicillium , Verticillium , etc. However, the exact mechanism of this mycoreduction is not known so far, but it is speculated that fungal enzymes and/or metabolites are usually responsible for reduction of metal ions into their respective nanoparticles. Although many soil and pathogenic fungi have been reported as nano-factories of desired metals, relatively few reports are available about the synthesis of nanomaterials using fungal endophytes. It's surprising since fungal endophytes occupying the unusual habitat have potential to survive under stress conditions and thus must have set of enzymes and metabolites not found in