We analyzed the relationship between the main chemical properties (pH, total nitrogen content, total carbon content, and CN ratio) of sterilized medium and mushroom yields in 1 kg bag culture of Pleurotus ostreatus. The mushroom yields appeared to be highly correlated with the pH, total nitrogen content, and CN ratio, and were the highest under a total nitrogen content of 2.0–2.2% and a the CN ratio of 20–22.5. However, of the three parameters, total nitrogen content showed the highest correlation with the mushroom yield. The coefficient of determination(r2) between the total nitrogen content and the sum of the yield was 0.931, while that of the pH and CN ratio was relatively low. The nitrogen content of the medium was the most important factor in determining the yield of oyster mushrooms.