Helvella leucopus, a wild mushroom species, is considered a valuable food by local residents. In the present work, the nutritional value of H. leucopus was evaluated against some commonly cultivated edible and medicinal fungi as controls. H. leucopus showed significantly higher crude protein content. The amino acid composition of H. leucopus met the FAO/WHO ideal protein standard, with the highest ratio of essential amino acid to total amino acid (EAA/TAA) reaching 58.27%. H. leucopus showed the highest correlation with Ganoderma lucidum. The contents of flavour amino acid (FAA) and medicinal amino acid (MAA) in H. leucopus were significantly higher than those in the controls, and a high ratio of branched-chain amino acid to aromatic amino acid (BCAA/AAA) was observed in H. leucopus. The EAA composition of H. leucopus was 54.74%, 1.56- and 1.10-fold higher than that of the FAO/WHO model and the egg model, respectively. On the basis of the amino acid score, nutrition index, and other indices, H. leucopus could be a good protein source rich in amino acids, particularly in EAA and MAA. Therefore, this mushroom species is worthy of further investigation and utilisation, with huge market potential.