The aims of this study were to investigate the biological activities and amino acid contents of fermentation ethanol and sodium extracts from five edible mushrooms (Pleurotus eryngii, Pleurotus ostreatus, Flammulina velutipes, Lentinula edodes, and Agaricus bisporus). DPPH radical scavenging activities in 30% fermentation ethanol extracts of P. eryngii and P. ostreatus were significantly higher than those in sodium extracts (p<0.05). Nitrite scavenging activities were also higher in the 30% fermentation ethanol extracts of P. eryngii and P. ostreatus. The total polyphenol contents of P. eryngii, P. ostreatus, and F. velutipes were high in 70% fermentation ethanol extracts. The analysis of amino acids revealed that the 70% fermentation ethanol extract of P. eryngii had the highest content of total amino acids, with higher phenylalanine, leucine, isoleucine, valine, and tyrosine contents higher than the other extracts. In all the extracts of P. ostreatus, glutamic acid was the most abundant amino acid. The 5% NaCl and 30% fermentation ethanol extracts of F. velutipes contained abundant glutamic acid, alanine, and proline. Glutamic acid was the most abundant amino acid in the 70% and 30% fermentation ethanol extracts of L. edodes. In the 5% NaCl extracts of A. bisporus, glutamic acid and alanine were abundant. Thus, maximum biological and nutritional ingredients can be extracted using the optimal solvents for each type of mushroom.