Modern agriculture has been facing new challenges and fostering innovations to establish sustainable plant production. An integral part of these strategies is implementing new eco-friendly technologies in plant protection for better human health and a safer environment by minimizing the use of hazardous chemicals and also encouraging innovations such as the use of bio-based strategies for weed control. This specific strategy addresses the need to reduce the use and risk of pesticides, replacing conventional chemical herbicides with new bio-based solutions. In response to these issues, biocontrol strategies are gaining increased attention from stakeholders such as farmers, seed companies, agronomists, breeders, and consumers. Among these, bioherbicides have huge potential for the management of harmful weeds without affecting the natural quality of the environment and human health. In this context, this review is devoted to present an overview of the mycoherbicidal potential of Phoma sensu lato group of fungi, examining the advances in this field, including technological and scientific challenges and outcomes achieved in recent years. The mycoherbicides are eco-friendly and economically viable.