In the experiment of the mycelial growth rate and density of Trametes versicolor, using some substrates of agricultural by-products, the one with pepper stem and rice bran in a mixing ratio of 9:1(v/v) produced a best result of 101mm/10days, 83mm/10days in the one with 8:2 mixing ratio, compared to the control group with 9:1 mixing ratio of oak sawdust and rice bran(v/v), showing 74mm/10days. And the following results are shown in the order of bean stalk, sesame stem, and perilla stem. After the harvest of the mushrooms, the mycelial growth rate and its density of T. versicolor in each substrate were as in the following; the group with a waste substrate of Pleurotus. eryngii and rice bran in a mixing ratio of 9:1(v/v) produced a best result of 76 mm/days, the 8:2 ratio one with 61mm/10days, compared to the control group with 9:1 ratio of oak sawdust and rice bran, showing 74mm/10days, 59mm/10 days in the one with 8:2 ratio of the same substance.