Mycotoxins widely contaminate foods, posing a serious threat to both the economy and human health, being a major food safety concern. Physical adsorption is a highly promising detoxification strategy, but traditional adsorbents have limited performance. In recent years, although emerging porous materials such as metal-organic frameworks (MOFs) have demonstrated excellent properties, their high cost and poor stability still restrict their application. Against this backdrop, graphene oxide (GO)-based materials have become a research hotspot for the next generation of efficient adsorbents due to their low cost, high stability, and ease of functionalization. This paper first systematically clarifies the unique advantages of GO by comparing the differences in performance between traditional and emerging adsorbent materials. On this basis, it comprehensively reviews recent advances in the design and preparation of GO-based materials and their application for the adsorption of major mycotoxins in food matrices, as well as their mechanisms of action. Meanwhile, it analyzes the matrix effects for GO-based materials in complex food environments, as well as their potential effects on food quality characteristics and biosafety. Finally, based on existing shortcomings, this paper proposes that future efforts should focus on developing intelligent GO-based adsorbents that integrate multiple functions such as adsorption, degradation, and antibacterial activity to achieve more efficient and safer toxin control.