Chemical pesticides have been providing the crop protection required to help satisfy the world demand for food, feed, and fiber. Biopesticides (BPs), particularly fungi-based BPs, are a promising new alternative with high biodegradability and specificity, low likelihood of resistance development, suitability for incorporation into integrated pest management practices, and practically no known health risks. However, unsuitable mass production procedures, narrow action spectra, heterogeneous performance, and short shelf life combined with legislation registry constraints, end-user resistance, and general lack of knowledge are slowing their adoption. In addition to regulatory framework revisions and improved training initiatives, thoughtfully designed formulations, improved preservation methodologies, and field test validations are needed to offer new BPs with improved efficacy and increased shelf life. This overview compiles current and novel fungi-based BP applications for crop and animal pest control with a focus on formulation approaches aiming at retaining efficacy and improving shelf life. Innovative formulation approaches, emerging pest control technologies, and BP challenges and opportunities are also included. Graphical abstract