The discipline of mycology is a fascinating one. It has a major influence on the nutrition, health and environmental safety of mankind. Cultivation of edible and non-edible mushrooms for nutrition, pharmaceuticals, biopolymers and biocomposites will open up new avenues in research as well as the more profitable utilization of agricultural residues. Cultivation and of domesticated and wild mushrooms poses a challenge to fulfill the needs of human/animal nutrition and utilization of agrowastes tangibly. Cultivation of ectomycorrhizal fungi benefits nutrition as well as plant protection. Macrofungi are the major source of several metabolites of nutritional, health, agricultural and industrial significance (e.g., antioxidants, antimicrobials and pigments). Macrofungal bio composites provide alternatives to the use of animal-derived or plant-derived products (e.g., nanopapers, leather and packaging materials). They serve a dual role in providing nutrition and pharmaceuticals (nutraceuticals) to humans as well as livestock. Macrofungi interact with insects symbiotically (e.g., Termitomyces with termites) and provide delicious nutraceutical product. They also control insects by infecting and producing pharmaceutically and metabolite-rich products (e.g., Cordyceps attacks insects). Macrofungi have a strong potential to control pathogens like nematodes in soil (bioremediation). They are also useful as biofertilizers to meet the needs of plant nutrition. The book outlines current advances in macrofungal technology. It highlights different facets of macrofungal cultivation, bioactive compounds, biocomposites, nutraceuticals, benefits with interaction with insects, application as biofertilizers and ecosystem services like bioremediation.