The biological activities of the various solvent extracts of mycelial Schizophyllum commune were investigated. The electron donating ability of mycelial S. commune was showcel 39%, 21%, 35% and 43% in Hot-water extract, water extract, ethanol extract and methanol extract at a 1,000 ㎍/㎖ concentration, respectively. As the results of SOD (superoxide dismutase)-like ability of Hot-water extract, water extract, ethanol extract and methanol extract of mycelial S. commune were showed 39%, 21%, 35% and 43% at a 1,000 ㎍/㎖ concentration, respectively. Measurement of ABTS radical cation scavenging activity of all extracts was showed more than 80% scavenging activity at a 1,000 ㎍/㎖ concentration. The tyrosinase inhibition effects related to skin-whitening by mycelial S. commune in Hot-water and water extract at 1,000 ㎍/㎖ were showed closely 5% activity and ethanol and methanol extracts were showed about 10% at 1000 ㎍/㎖ concentration. Antimicrobial activity of Propionibacterium acnes and Malassezia furfur were ineffective in mycelial S. commune extracts. These results showed that the mycelial S. commune has potential for the development of antioxidative, whitening effests and as a natural and functional additives.