Fungal infections are one of the significant causes of death worldwide. Antifungal agents are associated with several side effects and toxicities while treating these infections. To overcome these physicochemical and pharmacokinetic side effects of antifungal agents, supramolecular drug delivery systems can be employed. The emulsion-based supramolecular assemblies, i.e., microemulsion and nanoemulsion, can be functionalized to achieve targeted delivery of antifungal drugs at the desired body sites. Emulsion based supramolecular assemblies have the ability to minimize the side effects related to antifungal agents and enhance their efficacy and safety profile. The present review focuses on the severe fungal infections and antifungal agents available for their management with their drawbacks. This review also introduces various emulsion-based supramolecular drug delivery approaches that may improve the usability of antifungal agents or reduce their side effects to treat fungal infections.