More people are looking for wholesome, nutritional muscle food that is low in sodium and fat and is good for their health. Food makers are constantly looking for natural bioactive substances since they provide health advantages beyond nutrition without degrading the product's quality. Since fungi are the source of antibiotics, microfungi are important economically. In addition to their economic significance, macrofungi that produce fruiting bodies known as mushrooms have also been used directly as food. In Chinese culture, edible mushrooms have long been revered as a source of health and vigour. Acids, terpenoids, polyphenols, sesquiterpenes, alkaloids, lactones, sterols, metal chelating agents, and nucleoside analogues are just a few of the bioactive compounds found in edible mushrooms. Mushrooms are effective for treating cancer, hepatitis, and high cholesterol in addition to antiviral, hepatoprotective, Immunopotentiating, and hypocholesterolemic applications because they contain biologically active chemicals. The Phellinus genus contains several mushrooms that are believed to be effective against cancer, including Pleurotus, Agaricus, Ganoderma, Clitocybe, Antrodia, Trametes, Cordyceps, Xerocomus, Schizophyllum, Flammulina, Suillus, Inonotus, Inocybe, Funlia, Lactarius, Albatrellus, and Fomes. The anticancer substances work to increase reactive oxygen species, block mitotic kinase, prevent angiogenesis, and inhibit topoisomerase, all of which stop the growth of cancer cells. In this article, we assembled the most recent studies on the advantages of eating edible mushrooms for your health. As a result, it can be inferred that including mushrooms in your diet on a regular basis may help with cancer therapy.