Fumonisins are a group of mycotoxins generated by the Fusarium spp. in foods and feeds. More than 15 isomers of Fumonisin are recognized, and the B series of Fumonisins is the primary and referral isomer of Fumonisin. Fumonisin B can cause leukoencephalomalacia in rabbits and horses and porcine pulmonary edema in swine. Fumonisin B is also nephrotoxic, hepatotoxic, immunotoxic and carcinogenic. It blocks sphingolipid biosynthesis (and hinders the synthesis of ceramide) by a noticeable resemblance to sphingosine and sphinganine. This paper provides a review of the toxicity, occurrence, and mechanism of carcinogenicity, hepatotoxicity, nephrotoxicity as well as immunotoxicity of Fumonisins, which are primarily found on a variety of food and feed in Africa, America, Europe, Asia, and Oceania. In this paper, current information on contamination of feeds and foods by Fumonisins around the world is summarized. Because of economic losses induced by Fumonisins and their harmful effects on animal and human health, various procedures to detoxify infected feeds and foods have been illustrated in this review, including biological, physical, and chemical processes. Additionally, we discuss dietary intakes and maximum limits of Fumonisins in some countries.