Hericium erinaceus and Pleurotus eryngii are edible and medicinal mushrooms grown commercially in many countries around the world. In nature, H. erinaceus grows on old or dead trunks of hardwood trees. P. eryngii grows on the roots of Apiaceae plants. To exploit their beneficial properties, these mushrooms have been grown indoors using mushroom substrates mainly consisting of dry wood chips, straw, and cereals originating from forest maintenance, agriculture, and industry wastes, respectively. Additional supplements such as olive mill solid waste are added to the substrate to support mushroom development. However, the impact of substrate additives on the edible mushroom metabolic content has not been assessed so far. We examined the effect of adding to the substrate different proportions of olive mill solid waste on the metabolic profiles of the fruiting body (FB) and mycelium of H. erinaceus and P. eryngii mushrooms. We used computational metabolomics methods to analyze the untargeted metabolomics data obtained from Q-Exactive Plus high-resolution LC-MS/MS data. In general, the methanolic extracts of H. erinaceus FB and mycelium were more highly enriched with specialized metabolites than those of P. eryngii. Interestingly, olive mill solid waste increased some of the unique metabolites related to the beneficial hericenone family in the H. erinaceus FB and several erinacerin metabolites from the mycelium. At the same time, the additive decreased the toxic enniatin metabolite abundance. Altogether, we demonstrate how a change in substrate composition affects the mushrooms specialized metabolome and can induce beneficial mushroom metabolite diversity. This highlights the importance of including metabolomics strategies to investigate new sustainable growth options for edible mushrooms and other natural foods.