Chemical analysis of salted fish was analyzed in 60 samples collected from various moloha markets in Sohag, Qena and Aswan Governorates, Upper Egypt. Moloha contained 52.9% water content, while organic matter content represented 71.79% of dry weight and 33.81%($338.12{pm}8.64mg;g^{-1}$) of fresh weight. Total salts and soluble salts represented 13.29% and 10.19%($132.88{pm}7.65;and;101.93{pm}5.76mg;g^{-1}$ of fresh weight), respectively. pH values were more or less neutral. Mycological investigation of examined samples revealed that fifty-five fungal species and one variety belonging to 11 genera were identified. The fungal genera of highest occurrence and their respective number of species were Aspergillus(A. flavus, A. niger, A. fumigatus, A. montevidensis, A. ficuum, A. parasiticus and A. mangini) and Penicillium(P. citrinum, P. puberulum, P. aurantiogriseum and P. roquefortii). On the other hand, yeast represented 18.2% and 3.0% of total counts of fungi on Czapeks-dextrose agar and 15%NaCl-Czapeks-dextrose agar media, respectively. Samples were assayed for potential presence of mycotoxins. Ten out of 60 samples(16.7%) were proved to be toxic. It is the first record of mycotoxins contamination of salted fish in Egypt. The ability of 340 isolates of recovered fungi was screened for production of mycotoxins and extracellular enzymes.