Mycotoxins, which are toxic secondary metabolites produced by fungi, are harmful to humans. Mycotoxin-induced contamination has drawn attention worldwide. Consequently, the development of reliable and sensitive detection methods and high-efficiency control strategies for mycotoxins is important to safeguard food industry safety and public health. With the rapid development of nanotechnology, many novel nanomaterials that provide tremendous opportunities for greatly improving the detection and control performance of mycotoxins because of their unique properties have emerged. This review comprehensively summarizes recent trends in the application of nanomaterials for detecting mycotoxins (fluorescence, colorimetric, surface-enhanced Raman scattering, electrochemical, and point-of-care testing) and controlling mycotoxins (inhibition of fungal growth, mycotoxin absorption, and degradation). These detection methods possess the advantages of high sensitivity and selectivity, operational simplicity, and rapidity. With research attention on the control of mycotoxins and the gradual excavation of the properties of nanomaterials, nanomaterials are also employed for the inhibition of fungal growth, mycotoxin absorption, and mycotoxin degradation, and impressive controlling effects are obtained. This review is expected to provide the readers insight into this state-of-the-art area and a reference to design nanomaterials-based schemes for the detection and control of mycotoxins.