Mycotoxins viz., aflatoxins, the secondary fungal metabolites, are hepatotoxic, genotoxic, carcinogenic, and teratogenic. According to several studies, mycotoxins have been linked to financial losses in all phases of food and feed production, including crop and animal production, processing, and distribution due to the reduction in crop yield and animal productivity. Due to their widespread existence, Aflatoxin and Fusarium toxins, such as deoxynivalenol and fumonisins, are of particular interest because they can seriously contaminate feed and food, adversely affect farm animals with acute or chronic mycotoxicosis, and affect humans with nausea, vomiting, abdominal pains, and other symptoms of acute liver injury. Consequently, there is an increased need for a revolutionary method for preventing mycotoxins in food and livestock and the effects of current contamination by mycotoxins. Several physical, chemical, and biological techniques exist for mycotoxin decontamination or detoxification. It is a known fact that biological detoxification is highly effective and offers ecological sustainability, applicability over a wide range of mycotoxins, easiness and cost-effectiveness too. Algae and the compounds produced by algae have multiple properties like anti-fungal, anti-oxidants, antibiofilm and many more which can be exploited for many applications, including the detoxification or degradation of toxic components, including mycotoxins. Such compounds include sulphated polysaccharides, beta-D-glucans, polyphenolic compounds, etc. Spirulina platensis is one such algae that has been suggested as a possible aflatoxin detoxicant. The focus of this study is on the numerous algal characteristics, particularly those derived from polysaccharides, and their potential utility in the detoxification of mycotoxins.