Cereals and legumes are the major staples across the globe, thus providing nutrition to humans, and their by-products utilized as animal feeds. However, mycotoxins synthesized by fungi contaminate these grains on the field during cultivation and are transferred to the storage centers. These fungi infect and deteriorate stored grains, thereby tampering with food security. Moreover, the deterioration decreases nutrient content and alters the physicochemical properties of grains. The current conventional methods used to reduce grain contamination are becoming ineffecitive, coupled with the detrimental health effects it has on the consumer and to the environment. Herein, we present an overview of the use of nanoparticles (NPs) as an alternative and novel method of reducing mycotoxin biosynthesis due to their potent biocidal properties. Silver nanoparticles (AgNPs) are considered and have shown promising and effective fungicidal properties against important storage fungi, and pests hence could be utilized in the agriculture and food sector for a vast myriad of applications. These may help to either minimize/eradicate the exposure to the mycotoxins and its adverse health effects, hence contributing to the holistic growth and development of people.