Selenium is a crucial trace element that necessitates exogenous supplementation and plays an essential role in human health, but its facilitation requires the conversion from inorganic to bioavailable organic forms. Selenium-enriched edible fungi provide an effective strategy for selenium fortification. Their easy cultivation, rapid growth, and excellent conversion capabilities make them ideal candidates for achieving selenium enrichment goals. This article reviews various methods for producing selenium-enriched products and highlights the benefits and functional properties of these fungi. It summarizes the mechanisms underlying selenium absorption and transformation within fungal biomass while considering influencing factors, such as environmental conditions, types of edible fungi, and sources of selenium. Furthermore, this article offers developmental recommendations to address current industrial challenges, providing theoretical references to foster healthy and sustainable advancements in this field.