Mediterranean forest dynamics are tightly linked to belowground fungal communities since fungi are involved in key ecosystem processes such as organic matter and nutrient cycling, water regulation, soil preservation or mutualistic associations. The latter is particularly important for tree species such as pines that need to establish symbioses with mycorrhizal fungi for survival and development. Mycorrhizal fungi improve water and nutrient uptake by the host tree, in exchange for photosynthetic carbohydrates, directly affecting the productivity and the response of trees to the surrounding environment. This close mutualistic association with fungi helps trees cope with the limiting environmental conditions often found in Mediterranean areas, which can be particularly relevant in the context of global change. Forests provide multiple provisioning (timber, mushrooms, food, fuel), cultural (recreation space, landscape), regulatory (carbon sequestration, air and water purification) and supporting (soil formation, primary production, nutrient cycling) ecosystem services. Moreover, soil fungal diversity promotes multiple ecosystem functions, e.g., decomposition, mineralization, and nutrient cycling, ensuring the delivery of key regulatory ecosystem services in forests. Mushroom harvesting is highly valued in the Mediterranean region and the integration of mushroom and truffle production in forest management strategies is of paramount importance.