Globalization of the trade in agricultural commodities has contributed significantly to the discussion about potential hazards involved and has increased in particular the awareness of mycotoxins. Safety awareness in food and feed production has also risen due to the simple fact that methods for testing residues and undesirable substances have become noticeably more sophisticated and more available at all points of the supply chain. Mycotoxins comprise of a family of fungal toxins, many of which have been implicated as chemical progenitors of toxicity in man and animals. There are four classes of mycotoxins of major concern namely aflatoxins, zearalenone, ochratoxins, and fumonisins. Formation of mycotoxins varied between species as well as within a given species. A variety of physical, chemical, and biological methods to counteract the mycotoxin problem have been reported, but large-scale, practical, and cost-effective methods for detoxifying mycotoxin-containing feedstuffs are currently not available. Detoxification strategies for the contaminated foods and feeds should be done to reduce or eliminate the adverse actions of mycotoxin to improve food safety and prevent economic losses. The most recent approach to the problem has been the addition to the animal's diet of nonnutritive sorbents that sequester mycotoxins, reduce their gastrointestinal absorption and avoiding their toxic effects on livestock and toxin carryover into animal products. This review comments on the potential hazards of several mycotoxins together with prevention strategy for fungal and mycotoxin contamination.