This review discusses the pharmacological potential of mushrooms, focusing on their antimicrobial, antiviral, antitumor, antiallergic, immunomodulating, anti-inflammatory, antiatherogenic, hypoglycemic, hepatoprotective, and central activities. It highlights the production of mushrooms and their compounds, emphasizing the broad spectrum of detected pharmacological activities. The review also covers the recent literature on these compounds, including their isolation and biological activities. Key compounds such as ganoderic acids, polysaccharides, and triterpenes from mushrooms are discussed, along with their potential in treating various diseases. The review concludes by emphasizing the need for further research and standardized production methods to fully explore the medicinal value of mushrooms.This review discusses the pharmacological potential of mushrooms, focusing on their antimicrobial, antiviral, antitumor, antiallergic, immunomodulating, anti-inflammatory, antiatherogenic, hypoglycemic, hepatoprotective, and central activities. It highlights the production of mushrooms and their compounds, emphasizing the broad spectrum of detected pharmacological activities. The review also covers the recent literature on these compounds, including their isolation and biological activities. Key compounds such as ganoderic acids, polysaccharides, and triterpenes from mushrooms are discussed, along with their potential in treating various diseases. The review concludes by emphasizing the need for further research and standardized production methods to fully explore the medicinal value of mushrooms.