Abstract: Aflatoxin is one of the high-risk contaminants in the processing of peanut oil. Its contamination has pervaded the entire industrial chain, including the peanut cultivation, procurement, storage, transportation, and processing at present. There is a grave threat to the health of consumers in the sustainable industry. It is of great significance to systematically control aflatoxin in industrial development for food safety. Therefore, a three-dimensional prevention and control framework of the “source-process-removal at the processing end” has been established for the control of the aflatoxin in peanut oil. This article aims to systematically review the application technologies for the control of aflatoxin in the entire industrial chain of peanut oil processing. The key aspects were also covered, including the aflatoxin prevention and control at the source of peanuts, the control of aflatoxin during procurement, storage, and transportation of the peanuts, and the removal of the aflatoxin in the processing of peanut oil. At the source of peanut growth, the Aspergillus flavus and Rhizobia Coupling (ARC) microbial agents were achieved in the green prevention and control of aflatoxin at the source. The prevention and control of the aflatoxin at the source was also carried out in the breeding of the ARC microbial agents and the peanut varieties resistant to aflatoxin. Meanwhile, the efficient nodulation and nitrogen fixation of peanuts were induced to significantly promote the yield. That is, the coupling role was observed to prevent and control the contamination of Aspergillus flavus and its toxins. In peanut cultivation, the self-built bases or the order-based planting model were used to realize the quality control of the peanut raw materials. Professional and standardized planting and fertilization were also adopted using advanced equipment and facilities. The origin examination, sample testing, and inspection were carried out during the procurement, storage, and transportation of the peanuts. According to the temperature variation in the storage and transportation of the peanuts, the storage parameters were optimized to reduce the risk of aflatoxin contamination. Furthermore, the vibratory screening and color sorting were carried out on the peanut oil. A vibratory sieve with physical screening and a color sorter was applied to remove the contaminated peanuts in the pre-treatment stage during processing. The deep removal of the aflatoxin was also realized, according to the combination of multiple technologies, such as ultraviolet degradation, physical adsorption, and alkali refining. Among them, the ultraviolet irradiation and physical adsorption were suitable for the control of the aflatoxin in the pressed peanut oil. While the alkali refining was suitable for the control of aflatoxin in the refined peanut oil. Some challenges still remain in the control of aflatoxin in peanut oil at present, such as the insufficient stability of the source prevention and control, as well as the online lagging detection. As such, it is necessary to promote source biocontrol technologies in the future; Artificial intelligence detection can be expected to intensify the real-time and accurate online monitoring equipment for the aflatoxin content. The data resources of each link can be integrated into the entire industrial chain. A multi-dimensional coordinated prevention and control system can also be constructed for the quality and safety of edible oil products.