Lentinus lepideus is an edible mushroom, belongs to the family Tricholomaceteae and order Agaricales. The purpose of this study was to evaluate the antioxidant activities, tyrosinase inhibitory effects on the fruiting bodies of L. lepideus extracted with acetone, methanol and hot water. The antioxidant activities were performed on β-carotene-linoleic acid, reducing power, 1,1-diphenyl-2-picrylhydrazyl free radical scavenging, and ferrous chelating abilities. In addition to this, phenolic acid and flavonoids contents were also analyzed. Hot water extract of L. lepideus showed the strongest β-carotene-linoleic acid inhibition as compare to others extracts. At 8 mg/ml, methanolic extract showed a high reducing power of 1.21. The scavenging effects on 1,1-diphenyl-2-picrylhydrazyl radicals, acetonic and methanolic extracts were effective than hot water extract. The strongest chelating effect (87.50%) was obtained from the methanolic extract at 1.0 mg/ml concentration. Antioxidant activities of the extracts from the fruiting bodies of L. lepideus were increased with the increasing concentration. After application of reverse phase high performance liquid chromatography, coupled to a diode array detector and electrospray ionisation mass spectra, six phenolic compounds namely, chlorogenic acid, vanillin, naringin, naringenin, formononetin and biochanin were identified from acetonic extract. Tyrosinase inhibition of acetonic, methanolic, and hot water extracts of L. lepideus were increased with the increasing of concentration. Results revealed that acetonic and methanolic extract showed good, while hot water showed moderate activities of the tyrosinase inhibition at the concentration tested. This study suggests that fruiting bodies of L. lepideus can potentially be used as a readily accessible source of natural antioxidants.