Genomic advances have enhanced our understanding of mycorrhizal fungi's role in soil health and ecosystem sustainability. With over 250 fungal genomes sequenced, key genes regulating symbiosis and nutrient uptake have been identified. rDNA metabarcoding and metatranscriptomics reveal ecological drivers of mycorrhizal communities, highlighting their impact on nutrient acquisition and soil organic matter decomposition. This review underscores mycorrhizal fungi's potential in sustainable agriculture and forestry, and outlines future research directions.