Inhabitants of the Mount Cameroon region depend on the forest resources of the region for their livelihood, including the diverse use of macrofungi. With the increasing loss of forest due to exploitation and urbanization, they are liable to rapidly lose their indigenous knowledge of the forest resources, especially of mushrooms. An ethnomycological survey was conducted with the aim of documenting the indigenous knowledge of mushrooms as a prelude to conservation efforts. We also sought to assess the mycophilic and mycophobic tendencies of the inhabitants. It was revealed that traditionally, mushrooms were used as food, medicine, for mythological purposes, for aesthetics, and some poisonous species were also recorded. At least 15 different species were identified to be edible among the Bakweri people. Species used for ethnomedicine among the Bakweris belonged to several genera, including Termitomyces, Auricularia, Agaricus, Daldinia, Dictyophora, Pleurotus, Russula, Trametes, Chlorophyllum, and Ganoderma. Mushrooms were used as love charms, for dispelling evil spirits, and as part of cultural festivals.