Coprinellus micaceus, belongs to family Psathyrellaceae of Agaricales, Basidiomycota, has been used for ediblepurposes in the world. This study was initiated to evaluate the antioxidant, anti-diabetic, anti-cholinesterase, anti-tyrosinase, andnitric oxide inhibitory activities of fruiting bodies from C. micaceus extracted with methanol and hot water. The HPLC analysis ofphenolic compounds from the mushroom extracts identified 4 phenolic compounds including procatechuic acid, chlorogenicacid, (-)-epicatechin, and naringin. In 1,1-diphenyl-2-picrylhydrazyl(DPPH) free radical scavenging assay, the scavenging activitiesof methanol and hot water extracts were lower than that of positive control, BHT. The chelating effects of methanol and hotwater extracts were significantly higher than that of BHT, the positive control at the all concentrations tested. In the reducingpower assay, methanol and hot water extracts exhibited the lower activities compared with positive control at the 0.125-0.2 mg/ml. The methanol and hot water extracts of the mushroom inhibited the α-glucosidase activity by 62.26% and 67.59%,respectively at the 2.0 mg/ml, while acarbose, the positive control, inhibited the α-glucosidase activity by 81.81% at the sameconcentration. In the acetylcholinesterase(AChE) inhibitory activity assay, methanol and hot water extracts of the mushroominhibited the AChE by 94.64% and 74.19%, respectively at 1.0 mg/ml, whereas the galanthamine, standard drug, inhibited theAChE activity by 97.80% at the same concentration. The tyrosinase inhibitory activities of methanol and hot water extracts were91.33% and 91.99% at 2.0 mg/ml, while the inhibitory activity ofkojic acid, the positive control, was 99.61% at the sameconcentration. Nitric oxide(NO) production in lipopolysaccahride(LPS) activated RAW 264.7 cells were inhibited by the methanoland hot water extracts in a concentration dependent manner.Therefore, it is concluded that fruiting bodies of C. micaceuscontained natural antioxidant, anti-acetylcholinesterase and α-glucosidase inhibitory, anti-inflammatory, anti-tyrosinase substanceswhich might be used for promoting human health.