Entomopathogenic fungi are a special group of soil-dwelling microorganisms that infects and kills insects and other arthropods through cuticle penetration. They are currently used as biocontrol agents against insect plant pests and play a vital role in their management. Regardless that entomopathogenic fungi are currently on the agriculture market, their full potential has not yet been utterly explored. Up to date substantial research has covered the topic revealing numerous uses in pest management but also on their ability as endophytes, assisting the plant host on growth and pathogen resistance. This article addresses the literature on entomopathogenic fungi through the years, noting their mode of action, advantages, potential applications, and prospects.