With the growth in worlds population, adequate access to safe food supply will remain a global priority. However, contamination of food by various environmental contaminants is a major global food safety issue. Among many contaminants, the world has experienced an increase in mycotoxin contamination of food grains in recent years. This could be attributed to climatic and agronomic changes that encourage fungal growth during crop cultivation, harvest and storage. More than 500 mycotoxins have been identified, and most animal feedstuffs are likely to be contaminated with multiple mycotoxins. Exposure of animals to mycotoxins mainly through contaminated feed may lead to carryover of toxicants and their metabolites into animal products such as milk, meat and eggs, posing a serious threat to animal and human health. In light of this, the present review focuses on mycotoxins contamination of animal feed, human foodstuffs, their economic impacts, implications on health and productivity, as well as various methods for their prevention and control to safeguard animal and human health.