The ethanol and water extracts of 20 kinds of mushrooms from Sichuan Province, Southwest of China, were investigated for their antioxidant activity using DPPH assay. The results showed the ethanol extract of Serpula lacrymans, Daldinia concentrica, and Scleroderma verrucosum had well DPPH free radical scavenging activities 91.33%, 79.76% and 62.82%, respectively. Besides, the water extracts of Serpula lacrymans, Armillaria luteo-virens, and Lentinus edodes also possessed pretty high DPPH free radical scavenging activity were 95.59%, 88.76% and 86.93%, respectively. Based on the above comparison, the EC50 and total phenolic content of the ethanol extracts of Serpula lacrymans, Daldinia concentrica, and Scleroderma verrucosum were also measured. Their EC50 and total phenolic content valued of 17.87mg·mL-1, 11.19mg·mL-1 and 35.01mg·mL-1, as well as 0.0769μg·L-1, 0.0673μg·L-1 and 0.0545μg·L-1, respectively. The results showed there was a correlation between antioxidant activity and total phenolic content. Besides, the reaction time of the DPPH test affected the free radical scavenging, which reflected the difference of the extract component would impact the test method.