This experiment was carried out to clarify the effect of light qualities on the growth characteristics and yield of fruiting body in the cultivation of Lyopyllum ulmarium. The intensity of illumination by type of light was in the order of white light(2,270Lux), yellow light(1,750Lux), blue light(460Lux) and red light(400Lux). An investigation of fruiting body showed these results that the pileus size and stipe diameter of fruiting body on CBM (Chungbuk mushroom)-1757 were much larger than Hypsizigus marmoreus, and an effect of yellow light seemed to be better than those of another light. In comparison with Hypsizigus marmoreus, the growth duration of CBM-1757 was shortened by 8 days which included 2 days for fungi culture, 1 day for first pinning requirement and 1 day for growth. The growth duration in yellow light illumination was about 70 days showing the tendency of 2~4 days reduction. There were no differences in results such as number of effective stem and fresh weight. The yield of fruiting body per bottle in CBM-1757(95.6g) was little higher than Hypsizigus marmoreus(94.8g). By a white light’s standard, the yields of blue and red light illumination were decreased by 2~9%, but that of yellow light illumination was increased by 8%. The chromaticity results showed that brightness, red and yellow coloration of CBM-1757 were higher than those of Hypsizigus marmoreus, and yellow light treatment was more effective than another light.