In this study, a low-salt Lentinula edodes soybean paste (LSLESP) with improved palatability and storability relative to traditional Korean soybean paste was developed by utilizing low quality log cultivation of L. edodes. We also conducted quality characteristic analyses of spread jam made from low-salt L. edodes soybean paste (SJLLESP). The lowest salinity content and the highest L (brightness) value was found in LSLESP. According to proximate compositions analysis, crude protein, crude fat, and ash content were higher in commercial soybean paste than in LSLESP. Glucose, fructose, and maltose were the only free sugars detected in commercial soybean paste, whereas arabinose and fucose were additionally detected in LSLESP. Only two types of organic acid, were detected in common in commercially available soybean paste and LSLESP. Four types of organic acid, were detected in SJLLESP due to its added ingredients. The major free amino acids in commercially available soybean paste and LSLESP are histidine, glutamic acid, and arginine. Total amino acid, content was higher in LSLESP (54.81 mg%) than in commercial soybean paste (49.26 mg%). Total free amino acid, content in SJLLESP was 43.01 mg%. Ergosterol and β-glucan contents were highest in SJLLESP. The elevated ergosterol and β-glucan content in low-salt LSLESP relative to commercial soybean paste was significant. In conclusion, LSLESP and SJLLESP contain useful components from L. edodes, and offer the advantage of low salinity. LSLESP and SJLLESP could thus contribute to the development of health foods using L. edodes.