The antioxidative effect, antimutagenic capacity and inhibitory effect of cancer cell proliferation in ethanol extracts of Ganoderma lucidum were studied for suggestion of prevention and dietetic treatment of chronic diseases and development of antioxidative, antimutagenic and anticancer functional food by employing biological and biochemical assay. The IC₅₀ of MDA with BSA conjugation reaction, lipid peroxidation and scavenging effect on DPPH radical in ethanol extracts of Ganoderma lucidum showed 1026.21 mg/mL, 0.152 mg/mL and 0.412 mg/mL, respectively. So, the most effective antioxidative capacity in ethanol extracts of Ganoderma lucidum was the lipid peroxidation, among the method used this study. The indirect and direct antimutagenic effects of ethanol extracts of Ganoderma lucidum were examined by Ames test using Salmonella typimurium TA98 and TA100. The inhibition rates on indirect mutagenicity mediated by 2-Anthramine showed 100% in the Salmonella typimurium TA98 and 98.74% in the Salmonella typimurium TA100 and the direct mutagenicity mediated by sodium azide in Salmonella typimurium TA100 was 82.96%. But, the inhibitory effect on indirect mutagenicity mediated by 2-Nitrofluorene in Salmonella typimurium TA98 was low(7.81%). The inhibitory Effect of Ganoderma lucidum ethanol extracts on cell proliferation in Hela and MCF-7 by MTT test were 74.36% in HeLa and 73.90% in MCF-7 at the 0.50 mg/assay concentration and IC₅₀ were 0.163 mg/mL and 0.196 mg/mL respectively. From this result, it is suggested that Ganoderma lucidum is believed to have a possible antioxidative, antimutagenic and anticancer capacities.