Over the last few years several laboratories have reported fluorescence polarization (FP) immunoassays for mycotoxins. These have included assays for fumonisins, deoxynivalenol and acetylated derivatives, aflatoxins, ochratoxin A, and zearalenone and related metabolites. Sensitivity in the FP assays may change dramatically over time, depending upon the antibody/tracer combination used. An important aspect of these homogeneous assays is the time required to reach an equilibrium endpoint. Although it is counterintuitive, the sensitivity of FP assays can actually be improved with shorter incubation times. However, the need for sensitivity must often be balanced against the need for the analyst to reproducibly time the incubation. The technical acumen of the analyst would be relatively more important in assays where measurements are taken before the system reaches equilibrium. In many cases the desired assays are those which reach equilibrium (and therefore give a stable endpoint) quickly, which may occur at the expense of sensitivity. It is for this reason the FP immunoassays are frequently not as sensitive as traditional ELISAs. Nevertheless, for many of the major mycotoxins rapid FP immunoassays can be developed, provided the appropriate combinations of antibody and tracer are used.