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The antioxidant potential of deionized water, 70% ethanolic and ethanolic extracts from mycelia of Lentinula edodes were investigated. These extracts exhibited the most potent radical-scavenging activity: the scavenging activities were 100%, 100% and 66.8% on DPPH at 30 mg/ml, and at 3 mg/ml the scavenging effects were all 100% on hydroxyl radicals. Ferrous ion chelating abilities were 71.0%, 39.0% and 42.8% at 30 mg/ml, respectively. The extracts showed a moderate reducing power of 0.499, 0.600 and 0.678 at 30 mg/ml.