Ganoderma lucidum, known as Reishi or Mannentake in Japan and Ling-Zhi in China has been considered as a symbol of good fortune, good health, longevity and even immortality. It is one of the most important popular medicinal mushrooms have been reported to possess a plethora of pharmacological properties. Among the various ailments for which this fungus, either in mycelial or fruiting form is known to have medicinal values are diabetes, ulcers, liver and lung diseases, asthma, high blood pressure and high cholesterol levels. It is best know for managing cancer in combination with conventional therapy and also for anti-HIV effect. This mushroom has been described as a non-toxic medicine beneficial to viscera and could improve intelligence by enhancing memory, hearing, vision and smelling. If taken regularly for longer periods, it would also retard ageing and prolong life span. Two alcohol soluble injections of Ganoderma have beneficial effects on cardio-cerebral-vascular system and may be useful for treatment of heart and brain ischemia. A number of products prepared from Ganoderma are sold throughout the world as dietary supplements.