Chemical properties and physiological activities of the freeze-dried synnemata of Beauveria bassiana were examined. A proximate analysis showed that the synnemata consisted mainly of carbohydrate (49.86%), protein 11.36%), and a moisture content of 30.64%. It contained a low amount of crude ash (4.76%) and fat (3.38%). The carbohydrate was composed mainly of mannose (52.3%), galactose (31.5%), glucose (13.2%), and rhamnose (3%). Trace amounts of arabinose, xylose, and fructose were present. Major amino acids In the synnemata were glutamic acid, glycine, aspartic acid, arginine, threonine, alanine, valine, leucine, lysine, and aspartic acid with the amounts of 30.42, 25.22, 17.17, 15.12, 12.65, 15.23, 12.47, 11.47, 14.24, and 17.17 mg/g, respectively. Among extracts from the synnemata, the hot-water extract showed 67% of anticomplementary activity compared to that of the positive control, followed by ethyl acetate extract (17%) and methanol extract (15%). The hot-water extract also had anticoagulant activity with 55 sec of coagulating time and this fraction exhibited the most potent Intestinal immune system modulating activity. The methanol extract showed the highest inhibitory activity (25%) on the 12-O-tetradecanoyl phorbol-13-acetate-induced superoxide ($O_2^-$) generation, followed by hot-water extract (18%) and ethyl acetate extract (10%). The data in the present study indicate that the extract of Beauveria bassiana synnemata contains some healthful chemical ingredients and it could provide beneficial physiological activities. These features of the synnemata should be of interest to the food industry as well as other industrial fields.