The objective of this study was to identify the variation of individual phenol content and antioxidant activity in commercial oyster mushrooms and phellinus mushrooms . The total phenol content varied from 3488.2 to 7161.9 g g-1 in oyster mushroom(Pleurotus spp.). The total phenol content varied from 23390.3 to 26878.3 g g-1 in phellinus mushroom, containing about from four times to seven times more than oyster mushrooms. Among the seventy nine oyster mushroom varieties examined, Bupyeongsoyeob had the highest total phenol content and Keunneutari 1 had the lowest total phenol content. Most of king oyster mushroom(Pleurotus eryngii) varieties and ferula oyster mushroom(Pleurotus ferula)had tendency of low total phenol content. EDA(Electron Donating ability) using DPPH varied from 9.3 to 73.6% in according to oyster mushroom varieties. Most of king oyster mushroom had low antioxidant activity. We believe that the content of functional substances like total phenol content and the antioxidant activities in commercial oyster and phellinus mushrooms could be improved and such varieties strengthed might be selected for the utilization of future breeding resources, based from the results of our study.