The article reviews the recent progress in the molecular genetics of *Pleurotus ostreatus* (oyster mushroom), highlighting its potential as a model mushroom for future research. The development of modern molecular genetic techniques and genome sequencing has led to significant breakthroughs in mushroom science. *P. ostreatus* has a well-established genetic toolbox, including efficient transformation protocols and multiple selection markers, enabling powerful techniques such as gene knockout and genome editing. These advancements have facilitated the study of various aspects, including wood component degradation, sexual development, protein secretion systems, and cell wall structure. The article also discusses the application of these techniques in enzymology, biochemistry, cell biology, and material science through protein engineering, fluorescence microscopy, and molecular breeding. Additionally, it explores the use of *P. ostreatus* in the study of dikaryosis, fruiting body development, spore formation, and cell wall structure, emphasizing its role in creating renewable materials from mycelia. The article concludes by highlighting the importance of understanding the cell wall structure and the roles of glucan and chitin synthases in *P. ostreatus* and other basidiomycetes.The article reviews the recent progress in the molecular genetics of *Pleurotus ostreatus* (oyster mushroom), highlighting its potential as a model mushroom for future research. The development of modern molecular genetic techniques and genome sequencing has led to significant breakthroughs in mushroom science. *P. ostreatus* has a well-established genetic toolbox, including efficient transformation protocols and multiple selection markers, enabling powerful techniques such as gene knockout and genome editing. These advancements have facilitated the study of various aspects, including wood component degradation, sexual development, protein secretion systems, and cell wall structure. The article also discusses the application of these techniques in enzymology, biochemistry, cell biology, and material science through protein engineering, fluorescence microscopy, and molecular breeding. Additionally, it explores the use of *P. ostreatus* in the study of dikaryosis, fruiting body development, spore formation, and cell wall structure, emphasizing its role in creating renewable materials from mycelia. The article concludes by highlighting the importance of understanding the cell wall structure and the roles of glucan and chitin synthases in *P. ostreatus* and other basidiomycetes.