Fungi have received special interest from the biotechnological sector focused on the production of active biomolecules and strain engineering. Genome-scale metabolic models (GEMs) are used to understand and improve their metabolism. GEMs can be obtained using computational methods, but they are susceptible to errors. Here, we describe the process to reconstruct a GEM and discuss several methodologies for analysis and validation of the model. We review different applications and explore the latest advances in GEM reconstruction to ease the process. With the new developments, we will be able to reconstruct and analyze high-quality GEMs for non-model species.