This study was conducted to develop food and medicinal products containing useful components of Lentinula edodes in Codonopsis lanceolata and Platycodon grandiflorus for use as herbal medicine. We manufactured C. lanceolata (FCLM) and P. grandiflorus (FPLM) extract fermented with L. edodes mycelium. The effect of the two fermented products on proximate composition, free sugar, organic acid, β-glucan, ergothioneine, ergosterol, and vitamin D2 levels, and 3T3-L1 preadipocyte cell growth were studied. The proximate composition analysis results showed that the crude fiber and crude fat content in FCLM was higher than that in FPLM, and the crude protein and soluble nitrogen content in FPLM was higher than that in FCLM. Free sugar analysis detected arabinose, glucose, and sucrose in both FCLM and FPLM, and the total free sugar content was high in FPLM. The organic acid content was lower in FCLM and FPLM compared to C. lanceolata and P. grandiflorus before fermentation. The β-glucan content was higher than that of L. edodes used as a control in both fermented products, FCLM and FPLM. The content of ergothioneine, an antioxidant, was higher in FCLM than in FPLM. Ergosterol content was highest in L. edodes which was used as a control, and the two fermented products showed similar content. Vitamin D2 was detected only in FCLM and FPLM, and FPLM (0.58±0.01 mg%) showed a higher vitamin D2 content than FCLM (0.47±0.01). FCLM and FPLM showed a higher level of cell viability for 3T3-L1 pre-adipocytes compared to non-fermented C. lanceolata and P. grandiflorus. In addition, FCLM and FPLM inhibited 3T3-L1 preadipocyte differentiation more than C. lanceolata and P. grandiflorus before fermentation, which may exert an anti-obesity effect.