Myconanotechnology is an emerging field, where fungi can be harnessed for the synthesis of nanomaterials or nanostructures with desirable shape and size. Though myconanotechnology is in its infancy, potential applications provide exciting waves of transformation in agriculture and fascinate microbiologists and other researchers to contribute in providing incremental solutions through green chemistry approaches for advancing food security. In this article, we provide a brief overview of the research efforts on the mycogenic synthesis of nanoparticles with particular emphasis on mechanisms and potential applications in agriculture and allied sectors.