study explored two holistic approaches for co-digestion of activated sludge and food waste. In Approach 1, mixed activated sludge and food waste were first hydrolyzed with fungal mash, and produced hydrolysate without separation was directly subject to anaerobic digestion. In Approach 2, solid generated after hydrolysis of food waste by fungal mash was directly converted to biofertilizer, while separated liquid with high soluble COD concentration was further co-digested with activated sludge for biomethane production. Although the potential energy produced from Approach 1 was about 1.8-time higher than that from Approach 2, the total economic revenue generated from Approach 2 was about 1.9-fold of that from Approach 1 due to high market value of biofertilizer. It is expected that this study may lead to a paradigm shift in biosolid management towards environmental and economic sustainability. (C) 2017 Elsevier Ltd. All rights reserved.