The use of yeasts in bioprocesses can be considered one of the most relevant strategies in industrial biotechnology, and their potential is recognized due to the ability of these microorganisms for production of diverse value-added compounds. Yeasts from Ustilaginaceae family have been highlighted in the last years as a promising source of industrial interesting compounds, including enzymes, sugars, lipids, organic acids, and biosurfactants. These compounds may exhibit various applications in pharmaceutical, cosmetic, food, medical, and environmental fields, increasing the scientific attention in the study of ustilaginomycetous for biotechnological purposes. In this mini-review, we provide a comprehensive overview about the biotechnological use of yeasts from Ustilaginaceae family to produce value-added compounds, focusing in recent trends, characteristics of processes currently developed, new opportunities, and potential applications.