This study investigated the culture characteristics of Cryptoporus volvatus, whichis grow naturally in Korea, to determine the suitable environmental conditions for its cultivation. The physiological characteristics of the mycelia were assessed according to the cultivation conditions, to determine the optimal conditions for artificial cultivation. The visual characteristics of the hyphae of Cryptoporus volvatus KACC52303 included an irregular and uneven surface and a fuzzy or cotton-like texture. Under the microscope, its microstructure showed pre-chlamydospore formation, but no clamps were seen. The appropriate culture temperature was found to be a medium/high temperature of approximately 25–30oC, and the optimal pH was found to have a wide range from weakly acidic (pH 4) to neutral (pH 7). In the optimal nutrient source experiment, hyphal growth was shown to be fair in a mixed medium with 2.5% dextrin as the carbon source and 0.1% yeast extract as the organic nitrogen source. Among the various amino acids, organic acids, and inorganic salts tested, the fastest hyphal growth was observed in the presence of leucine, acetic acid or gluconic acid, and KCl or KH2PO4, respectively. The column test showed that the best mycelial growth occurred in a mixed medium of 80% pine sawdust, 10% rice bran, and 10% corncob sawdust.