Polycyclic aromatic hydrocarbons (PAHs) are natural and anthropogenic aromatic hydrocarbons with two or more fused benzene rings. Because of their ubiquitous occurrence, recalcitrance, bioaccumulation potential and carcinogenic activity, PAHs are a significant environmental concern. Ligninolytic fungi, such as Phanerochaete chrysosporium, Bjerkandera adusta, and Pleurotus ostreatus, have the capacity of PAH degradation. The enzymes involved in the degradation of PAHs are ligninolytic and include lignin peroxidase, versatile peroxidase, Mn-peroxidase, and laccase. This paper summarizes the data available on PAH degradation by fungi belonging to different ecophysiological groups (white-rot and litter-decomposing fungi) under submerged cultivation and during mycoremediation of PAH-contaminated soils. The role of the ligninolytic enzymes of these fungi in PAH degradation is discussed.