Sparassis latifolia is a valuable edible mushroom, growing on fresh pine wood sawdust substrate. However, the mechanistic bases are poorly understood. The gene expression profiles of S. latifolia were analyzed from submerged cultures with fresh pine wood sawdust substrate for different times (0 h, 1 h, 6 h, 1 d, 5 d, and 10 d, respectively). The total number of differentially expressed genes (DEGs) identified under pine sawdust inducing was 2,669. And 806, 628, 113, 114, and 94 DEGs were identified at the five time points, respectively. There were 34 genes in common at all inoculated time points, including FAD/NAD(P)-binding domain-containing protein, GMC oxidoreductase, Flavin-containing monooxygenase, and Taurine catabolism dioxygenase. Weighted gene co-expression analysis (WGCNA) were then used to compare the molecular characteristics among the groups and identified that the green module had the highest correlation with group T-6h. There were 48 DEGs out of 58 genes in the green model, including short-chain dehydrogenase, glycoside hydrolase family proteins, Lipase, dienelactone hydrolase, and alpha-L-arabinofuranosidase. Interestingly, lipases are an important group of biotechnological catalysts which catalyze the hydrolysis of Rosin, which is abundant raw material from pine trees. This maybe provides clues into mechanisms that S. latifolia can grow on fresh pine wood sawdust substrate.