This study was peformed to screen the biological activities of Pleurotus ferulea (K5 and K8 strains). The cap of K5 strain is well developed than stalk, and vice versa in K8. The ethanol extract of Pleurotus ferulea exhibited significant free radical scavenging activity (35∼36%), suggesting possible effect on many degenerative diseases originated from the reaction of oxygen species. Acetylcholinesterase inhibitor is proven to be the most effective factor for Alzheimer disease induction, and ethanol extract of Pleurotus ferulea significantly inhibited acetylcholinesterase activity (25∼35%) in uitro. Moreover, ethanol extract of Pleurotus ferulea suppressed liver fibrosis by 3∼12% in uitro. However, Pleurotus ferulea feruled to inhibit glucose uptake in human intestinal cell line. Viability of gastric and colon cancer cells was also not affected by Pleurotus ferulea extract. In conclusion Pleurotus ferulea exhibited significant effect on free radical scavenging, acetylcholinesterase inhibiton and brain cell protection. However, Pleurotus ferulea failed to affect glucose uptake, and cytotoxicity of gastric and cancer cells. In general, K8 revealed more significant effects than K5.