Solid-state fermentation (SSF) of ammoniated corn straw was used to produce feed protein, followed by a toxicological assessment of the fermentation product. Results showed that through ammonification at 35 °C for 9 days and the subsequent SSF by the two fungi Penicillium sp. and Torula allii at 30 °C for 5 days, the contents of real protein and crude protein of the corn straw reached 29.66% and 35.41%, respectively. Toxicological assessment in mice showed that there were no significant differences (P > 0.05) for micronucleated polychromatic erythrocytes (Mn-PCEs) and sperm abnormality between dose groups and the control group. Malondialdehyde (MDA) levels and activities of superoxide dismutase (T-SOD), glutathione peroxidase (GSH-Px), and catalase (CAT) also showed no significant difference (P > 0.05) between tissues (heart, liver, spleen, stomach, kidney, and brain), which indicates that the fermentation product did not induce toxic effects and is safe to use as ruminant feed.