A persistent increase in the use of herbicides against invasive weeds for increasing crop production is having an adverse effect on the environment and human health. Hence, in recent years, herbicides of biological origin are preferred over conventional chemical herbicides. Over the last few decades, there has been a growing interest in research on fungi-based herbicides known as mycoherbicides. As we know, fungi not only play an important role in the sustenance/survival of our ecosystem by playing an active role in nutrient recycling but also are a rich source of secondary metabolites with immense industrial potential including environmentally benign microbial herbicides. Though they can help reduce the use of chemical pesticides, yet often their efficacy remains under question due to inconsistent results under field conditions as a consequence of narrow environmental requirements and naturally low virulence. However, using recent CRISPR-Cas technology these mycoherbicidal agents can be made more effective in weed management. Thus, in this review, we aim to document the various capabilities, mechanisms, applications, and ecological impact of mycoherbicides in managing invasive weed species, native species, and the environment. Further, we discuss how CRISPR-Cas can be used to improve weed management technology in an environmentally safe and effective way.