Malaria is the most important parasitic infection in people, affecting 5–10% of the world’s population with more than two million deaths a year. Whereas invasive bacterial infections are not uncommon during severe Plasmodium falciparum malaria, only a few cases of opportunistic fungal infections have been reported. Here, we present a fatal case of disseminated hyalohyphomycosis associated with acute P. falciparum malaria in a non‐immune traveller, review the cases reported in the literature and discuss the theoretical foundations for the increased susceptibility of non‐immune individuals with severe P. falciparum malaria to opportunistic fungal infections. Apart from the availability of free iron as sequelae of massive haemolysis, tissue damage, acidosis and measures of advanced life support, patients with complicated P. falciparum malaria also are profoundly immunosuppressed by the organism’s interaction with innate and adaptive host immune mechanisms.