Macroalgae and microalgae are two sources of natural ingredients that are of interest for industrial sectors because of their multiple potential applications. Algal extracts are known to be rich in valuable compounds such as fatty acids, minerals, and secondary metabolites, among others. Bioactivities disclosed for these biocompounds include their antifungal capacity through the growth inhibition of foodborne pathogens and spoilage microorganisms such as Aspergillus sp., Fusarium sp. or Penicillium sp. Apart from their antifungal activity, algal extracts can minimize the toxicity of mycotoxins through two molecular mechanisms: their antioxidant and their chelating properties . Antioxidants may reduce the toxic effect of mycotoxins whereas algae bioadsorption due to their rich composition in macromolecules (polysaccharides or proteins) may have the capacity to bind mycotoxins, prevent their metabolism, and facilitate their systemic release. These three mechanisms involved in the antifungal activity of micro- and macroalgal extracts will be critically assessed along this review in order to disclose their potential application as key tools in food industry and public health. The use of algae extracts as antifungals and detoxifiers may underline their use of natural additives with no side effects associated that may represent an alternative to extend foodstuffs shelf-life and prevent the occurrence of mycotoxins, especially aflatoxin B1, aflatoxin M1 and ochratoxin A. Therefore, this review is aimed to evaluate the multiple benefits that algal extracts may provide to reinforce food safety, reduce food disposal and prompt the utilization of underused biomass such as algae.