Abstract Bjerkandera adusta, a globally distributed fungus, is commonly used in the nutritional practices of the East Asian population. In this study, we evaluated the nutritional composition of the lyophilized mycelium of B. adusta as well as the phenolic composition and antioxidant activity of its extracts. The mycelium exhibited moisture (7.97 %), ash (3.27 %), and fiber (5.31 %) content values similar to the established values reported in the available literature. In addition, a high protein (9.32 %) and carbohydrate (63.45 %) content was shown, with a low lipid (1.36 %) content. The energy value per 100 g sample of mycelium was 1445.85 kJ. The results obtained indicated a statistically significant variation (p < 0.05) in the phenolic composition (81.84-110.96 mg gallic acid equivalents (GAE) per g of extract), free radical 1,1-diphenyl-2-picrylhydrazyl (DPPH) scavenging activity (IC50 29.05-340.46 µg·mL-1), phosphomolybdenum antioxidant content (34.89-55.64 %), reduction of ferricyanide ion (66.55-69.4 %), and thiobarbituric acid reactive substance (TBARS) values (44.66-133.03 %). These results are unprecedented for this species and emphasize its nutraceutical potential.