In this study, the anti-oxidant, anti-tumorigenic, anti-hypertensive, anti-thrombic, anti-diabetic, and anti- inflammatory properties of 18 different species of genus Pleurotus were investigated. In addition, the amino acid, β-glucan, and polyphenol contents were also measured. The β-glucan and polyphenol contents were the highest in Pleurotus cornucopiae var. citrinopileatus (yellow Pleurotus) of all species. The yellow Pleurotus also exhibited the highest physiological activity as assessed by the DPPH IC, Cytotoxic activity, ACE activity and so on. To confirm the mechanism for the physiological activity of the yellow Pleurotus, we performed further examinations within ICR mice. The yellow Pleurotus reduced glucose, triglyceride and total cholesterol levels in the ICR mice blood for 4 weeks after feeding, and also significantly lowered both GOT and GPT levels. Taken together, our data indicates the yellow pleurotus is a promising functional food ingredient.