Ganoderma lucidum methanolic extract (GLME) has attracted tremendous attention due to its exceptional antimicrobial and anticancer properties that can be delicately tuned by controlling the initial extraction's content and concentration. Herein, we detailed the characterization, antimicrobial, and cytotoxic performance of GLME as a potential multi-functional therapeutic agent. Accordingly, FTIR, XRD, FESEM, EDX, and HPLC analyses were employed to assess the samples, followed by disc diffusion and microdilution broth methods to test its antibacterial effects against four Gram-positive and Gram-negative bacterial strains, viz., Enterococcus faecalis, Staphylococcus aureus, Escherichia coli, and Pseudomonas aeruginosa. MTT assay was applied to determine the cytotoxic activity of GLME against PDL and Hek-293 normal cell lines and MCF-7 and K-562 cancer cell lines. The IC50 values of 598 µg mL-1 and 291 µg mL-1 were obtained for MCF-7 and K-562 cancer cell lines, which confirmed the stronger anticancer activity of the GLME against blood cancer cells than breast cancer cells. This is while the IC50 of normal Hek-293 cells is 751 µg mL-1, and the lowest toxicity was observed for normal PDL cells with more than 57% survival at a concentration of 3000 µg mL-1. The results showed that the antibacterial property of this product against E.coli bacteria was higher than streptomycin, so the zone of inhibition was observed as 44 ± 0.09 mm and 30 ± 0.11 mm, respectively. These data provide valuable insights into the therapeutic usage of GLME for treating breast and blood cancers. This work is motivated by research studies looking for pharmacological products to address chronic and acute diseases, where further resources and studies are required to explore such products' adverse effects and toxicity.