Mycotoxin-producing fungi are a significant source of crop and food contamination, posing a significant threat to global food safety and security. Essential oils, plant extracts and phytochemicals have emerged as green preservatives to extend the shelf-life of foods due to their unique antimicrobial properties. Unlike conventional synthetic preservatives, they are a sustainable and safe way to preserve food with no or little harmful effects on the environment. Use of nanoformulations containing essential oils and phytochemicals offer enormous potential as a mitigation strategy to lower mycotoxin contamination incidences in food and crop with enhanced release behaviour to efficiently transport them to the target location for a rapid reaction without much impact from environmental variables. Hence, this review overviews various essential oils and phytochemicals utilized through nanoformulations to control the mycotoxigenic fungi, probable mechanism of actions involved as well as emerging mycotoxins and associated safety concerns to ensure food sustainability. © 2022 Institute of Food, Science and Technology (IFSTTF).