Salt-adapted fungi are well-known inhabitants of hypersaline environments such as saltem, brine, estuary, salt lake, and marine environment, characterized by a high salt tolerance. Halophilic and halotolerant fungi have evolved with various special adaptive mechanisms, enable them to survive in elevated salt conditions. In most cases, these organisms are able to adapt extreme environmental conditions of temperature, pH, and ultraviolet radiation. Due to their successful thrive in high saline condition and combination of other harsh conditions, have been considered to be a paramount in the search for novel strains with industrial and environment biotechnological potentials. Salt adapted fungi possess a remarkable genetic reservoir, will culminate in the development of robust industrial organisms. Thus, in this review an approach has been made to concisely elucidate the biodiversity and eco-physiology of salt-adapted/salt-tolerant yeasts and filamentous fungi, their mechanism of adaptation in the hypersaline environment, as well as their biotechnological potentials.