Although the number of sesterterpenoids is fewer than other terpenoids reported, they have presented a wide range of biological activities and medicinal value. Reported filamentous fungal sesterterpene synthases are special on bifunctional two catalytically independent domains: prenyltransferase and terpene cyclase, but less specific on substrates selection and diverse ways of cyclization. This article reviews the research advances in filamentous fungal sesterterpenoids and their synthases, especially describes filamentous fungal sesterterpenoids and the structure and function characteristics of sesterterpene synthase.