Mycotoxin pollution is widespread in cereal, which greatly threatens food security and human health. In this study, the migration and transformation of sterigmatocystin (STG) mycotoxin during the contaminated rice wine processing was systematically assessed. QuEChERS (Quick, Easy, Cheap, Effective, Rugged, and Safe) coupled with ultrahigh-performance liquid chromatography coupled with tandem mass spectrometry (UPLC−MS/MS) method was firstly established for STG analysis in rice wine. It was found that high levels of rice leaven caused a significant reduction in STG in the fermented rice and wine, which was mainly due to the adsorption of yeast cells and Rhizopus biological degradation. However, compared with rice, the levels of STG in separated fermented wine was significantly decreased by 88.6%, possibly attributed to its high log Kow (3.81) and low water solubility (1.44 mg/L). The metabolites of STG (i.e., monohydroxy STG) were identified in rice wine fermentation for the first time. Moreover, STG disturbed the metabolic profile rice wine composition mainly by glycine, serine and threonine metabolism, alanine, aspartate and glutamate metabolism, purine metabolism pathway, particularly with regard to eight amino acids and sixteen lipids. This study elucidated the STG migration and transformation mechanism during the rice wine processing. The finding provided new analytical method for mycotoxin exposure and pollutant in food production, which may support agricultural production and food security.