The hot-water extracts of four strains of Volvariella volvacea [Vv (KMCC04386), Vv-Chi (KMCC04382), V9-21 (KMCC04380), and VG-19 (KMCC05115)] were prepared to determine their antioxidant activities, β-glucan content, and nutritional content. Among the four V. volvacea strains, Vv strain showed the highest DPPH (2,2-diphenyl-1-picrylhydrazyl) radical scavenging activity (23.7%). The highest total polyphenol and total flavonoid contents (8.17 mg y/g and 3.46 mg QE/g, respectively) were observed in the Vv-Chi strain. The ferric reducing antioxidant power (FRAP) and reducing power were significantly higher in the Vv-Chi strain compared to those in the other V. volvacea strains (p<0.05). There were no significant differences in the nitrite scavenging activity among the four different strains (p<0.05). The β-glucan content in the four V. volvacea strains ranged from 15.13–16.07%, and the VG-19 strain had the highest β-glucan content (15.73%). The VG-19 strain also had the highest total amino acid (986.8 mg/kg) and essential amino acid (369.3 mg/kg) contents among the four V. volvacea strains. The results of this study showed that the Vv-Chi strain exhibited the highest antioxidant activity, while the β-glucan and nutritional contents were higher in the VG-19 strain compared to those in the other strains of V. volvacea.