Polyporus umbellatus is one of the precious medicinal fungi, with sclerotia used as a diuretic agent and antidote in China for many years. This has led to the present interest in producing sclerotia of P. umbellatus in the laboratory due to a decreased abundance in natural sources. Here, we investigated the determining factors for sclerotial formation in P. umbellatus. Five carbon sources, namely, maltose, fructose, glucose, sucrose and soluble starch with different initial pH values were evaluated for their effects on mycelial growth and sclerotial development of P. umbellatus. Maltose, fructose and glucose could induce sclerotial formation of P. umbellatus. Sucrose and soluble starch could stimulate growth of the fungus but had no effect on sclerotial formation. The most efficient sclerotial production occurred with maltose followed by fructose and a pH of 5. In addition, different macroscopically evident characteristics of sclerotial development of P. umbellatus induced by different carbon sources were also observed. Our findings could provide new insights into further research on sclerotial production in P. umbellatus under artificial cultivation.