Due to the high economic and health impact of mycotoxins on feed/food safety and animal/human health, the EU has published regulations on undesirable substances in feedstuffs and foodstuffs and the requirements for regular testing. In this context, there is an increasing need for rapid analysis methods for mycotoxins, to support the official methods. An overview of emerging rapid methods for a holistic approach to mycotoxin monitoring and surveillance is presented. This paper focuses on recent developments in technologies in mycotoxin analysis, detection of mycotoxin-producing fungi and mycotoxin toxicity cell-based bioassays as rapid tools for evaluating food and feed mycotoxin contamination. Applications and limitations in accordance with legislation requirements and the complementary aspects of different technological approaches are discussed.