Composting, a vital process for organic waste management, hinges on intricate microbial dynamics. The role of specific microbial inoculants, such as fungi, in shaping these dynamics remains an area of keen interest. This study aimed to elucidate the impact of the fungal inoculant Marasmius tricolor 310b on composting dynamics, with a focus on temperature variations and the degradation of lignocellulosic components. We conducted a comprehensive composting experiment with four treatments: pure rapeseed straw, rapeseed straw with Marasmius tricolor 310b, a combination of rapeseed straw and pig manure, and the combination with Marasmius tricolor 310b. Temperature dynamics, lignocellulosic degradation rates, and fungal community structures were meticulously analyzed. While Marasmius tricolor 310b did not significantly alter the temperature profile, its presence markedly enhanced the degradation rates of cellulose and lignin. With the introduction of Marasmius tricolor 310b, the degradation rate of cellulose in the rapeseed straw compost increased from 0.0319 (ST) to 0.0419 (STM). In the combined rapeseed straw and pig manure compost, this rate rose from 0.0422 (STPM) to 0.045 (STPMM). For hemicellulose, the degradation rate in the rapeseed straw compost increased from 0.0103 (ST) to 0.014 (STM). However, in the combined compost, it slightly decreased from 0.0146 (STPM) to 0.013 (STPMM). As for lignin, its degradation rate in the rapeseed straw compost saw an increase from 0.0024 (ST) to 0.00366 (STM). In the combined compost, the rate rose from 0.00302 (STPM) to 0.00402 (STPMM). Fungal community analyses revealed discernible shifts in structure and diversity upon the fungus’s introduction. Network analyses further highlighted a highly interconnected microbial community, suggesting its robustness against perturbations. Temporal dynamics underscored the intricate interplay of microbial interactions, substrate availability, and external inoculants. The introduction of Marasmius tricolor 310b profoundly influences composting dynamics, offering valuable insights into microbial community interactions and presenting potential avenues for optimizing composting strategies.