Mycotoxins, highly toxic and carcinogenic secondary metabolites produced by certain fungi, pose significant health risks as they contaminate food and feed products globally. Current mycotoxin detection methods have limitations in real-time detection capabilities. Aptasensors, incorporating aptamers as specific recognition elements, are crucial for mycotoxin detection due to their remarkable sensitivity and selectivity in identifying target mycotoxins. The sensitivity of aptasensors can be improved by using upconversion nanoparticles (UCNPs). UCNPs consist of lanthanide ions in ceramic host, and their ladder-like energy levels at f-orbitals have unique photophysical properties, including converting low-energy photons to high-energy emissions by a series of complex processes and offering sharp, low-noise, and sensitive near-infrared to visible detection strategy to enhance the efficacy of aptasensors for novel mycotoxin detection. This article aims to review recent reports on the scope of the potential of UCNPs in mycotoxin detection, focusing on their integration with aptasensors to give readers clear insight. We briefly describe the upconversion photoluminescence (UCPL) mechanism and relevant energy transfer processes influencing UCNP design and optimization. Furthermore, recent studies and advancements in UCNP-based aptasensors will be reviewed. We then discuss the potential impact of UCNP-modified aptasensors on food safety and present an outlook on future directions and challenges in this field. This review article comprehensively explains the current state-of-the-art UCNP-based aptasensors for mycotoxin detection. It provides insights into potential applications by addressing technical and practical challenges for practical implementation.