Regulated synthesis of reactive oxygen species (ROS) by specific fungal NADPH oxidases (Noxs) plays a key role in fungal cellular differentiation and development. Fungi have up to three different Nox isoforms, NoxA, B and C. The NoxA isoform has a key role in triggering the development of fruiting bodies in several sexual species whereas NoxB plays a key role in ascospore germination. The function of NoxC remains unknown. Both NoxA and NoxB are required for the development of fungal infection structures by some plant pathogens. ROS production by NoxA is critical for maintaining a fungal-plant symbiosis. Localised synthesis of ROS is also important in establishing and maintaining polarised hyphal growth. Activation of NoxA/NoxB requires the regulatory subunit, NoxR, and the small GTPase RacA. The BemA scaffold protein may also be involved in the assembly of the Nox complex. By analogy with mammalian systems MAP and PAK kinases may regulate fungal Nox activation. How fungal cells sense and respond to ROS associated with cellular differentiations remains to be discovered.