This review explores the pharmacological potential of mushrooms, highlighting their bioactive compounds with antimicrobial, antiviral, antitumor, immunomodulating, anti-inflammatory, antiatherogenic, hypoglycemic, hepatoprotective, and central nervous system activities. The study covers recent literature and discusses the production of mushrooms and their compounds. Mushrooms, particularly basidiomycetes, are a rich source of bioactive metabolites, with many species containing polysaccharides, triterpenes, and other compounds that exhibit various therapeutic effects. Antimicrobial compounds from mushrooms, such as ganomycins and epicorazins, show activity against bacteria and fungi. Antiviral effects are observed in compounds like ganoderic acids and triterpenes from Ganoderma lucidum, which inhibit HIV-1 and influenza viruses. Antitumor activities are demonstrated by compounds from various mushrooms, including ganoderic acids and polysaccharides, which exhibit cytotoxic effects on cancer cells. Immunomodulatory compounds, such as PSK and PSP, enhance immune function and have been used in cancer treatment. Hypoglycemic effects are shown by compounds like eritadenin and polysaccharides from mushrooms, which help regulate blood sugar levels. Anti-inflammatory and hepatoprotective activities are also reported, with compounds like ganoderic acids and polysaccharides reducing inflammation and protecting the liver. Central nervous system effects, including analgesic and anxiolytic properties, are observed in some mushroom compounds. The production of mushroom compounds is feasible through cultivation and extraction methods, with many compounds being used in dietary supplements and pharmaceuticals. The review emphasizes the need for further research to fully explore the therapeutic potential of mushrooms, including standardized production and regulatory approval for their use as drugs or nutraceuticals. Overall, mushrooms represent a valuable resource for developing new medicines due to their diverse bioactive compounds and potential for bioprospecting.This review explores the pharmacological potential of mushrooms, highlighting their bioactive compounds with antimicrobial, antiviral, antitumor, immunomodulating, anti-inflammatory, antiatherogenic, hypoglycemic, hepatoprotective, and central nervous system activities. The study covers recent literature and discusses the production of mushrooms and their compounds. Mushrooms, particularly basidiomycetes, are a rich source of bioactive metabolites, with many species containing polysaccharides, triterpenes, and other compounds that exhibit various therapeutic effects. Antimicrobial compounds from mushrooms, such as ganomycins and epicorazins, show activity against bacteria and fungi. Antiviral effects are observed in compounds like ganoderic acids and triterpenes from Ganoderma lucidum, which inhibit HIV-1 and influenza viruses. Antitumor activities are demonstrated by compounds from various mushrooms, including ganoderic acids and polysaccharides, which exhibit cytotoxic effects on cancer cells. Immunomodulatory compounds, such as PSK and PSP, enhance immune function and have been used in cancer treatment. Hypoglycemic effects are shown by compounds like eritadenin and polysaccharides from mushrooms, which help regulate blood sugar levels. Anti-inflammatory and hepatoprotective activities are also reported, with compounds like ganoderic acids and polysaccharides reducing inflammation and protecting the liver. Central nervous system effects, including analgesic and anxiolytic properties, are observed in some mushroom compounds. The production of mushroom compounds is feasible through cultivation and extraction methods, with many compounds being used in dietary supplements and pharmaceuticals. The review emphasizes the need for further research to fully explore the therapeutic potential of mushrooms, including standardized production and regulatory approval for their use as drugs or nutraceuticals. Overall, mushrooms represent a valuable resource for developing new medicines due to their diverse bioactive compounds and potential for bioprospecting.