The Enzyme 3-hydroxy-3-methylglutaryl-CoA reductase (HMG CoA reductase) catalyses conversion of HMG CoA to mevalonate during cholesterol biosynthesis. Lovastatin is used as an anti-cholesterol drug which blocks HMG CoA reductase activity. Lovastatin has been reported to be produced by Submerged Fermentation (SmF) and Solid State Fermentation (SSF) by fungi. Of-late it is used not only as anti-cholesterol drug but as anti-inflammatory agent, cancer cell apoptosis, restoration of renal function, bone disorders treatment; immune-modulatory role is also being investigated. This review provides insight into the different lovastatin production strategies employed by SSF, its advantages over SmF, optimisation parameters, lovastatin genetics etc.