Edible mushrooms are recognized as a rich source of diverse metabolites, including polysaccharides, amino acid derivatives, terpenoids, polyphenols, sterols, and flavonoids. These compounds have been extensively reported to have antioxidant, anti-inflammatory, immunomodulatory, anticancer, and metabolic regulatory activities, thereby underscoring their scientific and industrial significance in nutraceutical and pharmaceutical applications. However, conventional extraction methods, which are simple and cost-effective, have limitations in large-scale processes, including long processing times, excessive use of solvents, low yields, and degradation of heat-sensitive compounds, which limit scalability. Therefore, eco-friendly extraction methodologies have emerged as sustainable alternatives. Advanced extraction strategies using food-grade solvents, such as deep eutectic solvents, in conjunction with ultrasound or microwave assistance, enable selective recovery of metabolites under mild conditions, enhancing yield and minimizing the environmental impact. In this review recent progress in advanced extraction methodologies, with respect to efficiency, selectivity, and sustainability, are critically assessed. The industrial implications, including case studies of advanced extraction methodologies applied to secondary metabolites, and the potential of edible mushrooms as renewable bioresources or the development of nextgeneration functional foods and natural therapeutics, are also discussed.