Fungi　comprise　organisms　like　molds,　yeasts　and　mushrooms.　They　have　been　used　as　food　or　medicine　for　a　long　time.　A　large　number　of　fungal　proteins　or　peptides　with　diverse　biological　activities　are　considered　as　antibacterial,　antifungal,　antiviral　and　anticancer　agents.　They　encompass　proteases,　ribosome　inactivating　proteins,　defensins,　hemolysins,　lectins,　laccases,　ribonucleases,　immunomodulatory　proteins,　and　polysaccharopeptides.　The　target　of　the　present　review　is　to　update　the　status　of　the　various　bioactivities　of　these　fungal　proteins　and　peptides　and　discuss　their　therapeutic　potential.