Human activities generate enormous amounts of organic wastes and residues. Filamentous fungi (FF) are able to grow on a broad range of substrates and survive over a wide spectrum of growth conditions. These characteristics enable FF to be exploited in biorefineries for various waste streams. Valorization of food industry byproducts into biomass and various arrays of value-added products using FF creates promising pathways toward a sustainable circular economy. This approach might also contribute to reaching the sustainable development goals set by the United Nations, particularly for zero hunger as well as affordable and clean energy. This paper presents the application of filamentous fungi in food, feeds, fuels, biochemicals, and biopolymers. The nutritional values, health benefits, and safety of foods derived from byproducts of food industries are also addressed. The technoeconomical feasibilities, sustainability aspects and challenges and future perspectives for biorefineries using filamentous fungi are discussed. © 2021 Elsevier Ltd