| Ganoderma leucocontextum is an edible and medicinal fungus with significant scientific and economic values. In recent years, important progress has been made in the research on the biological characteristics, artificial cultivation, and bioactive components of G. leucocontextum. This paper provides a systematic review of the morphological characteristics and molecular identification methods for the species of G. leucocontextum. In terms of the biological properties and cultivation techniques, the influence of various environmental conditions such as temperature, pH, and carbon/nitrogen sources on the development of mycelia and fruiting bodies were discussed along with comparing the advantages and disadvantages of different cultivation modes, and exploring the culture substrate optimization, high-yield strain breeding, and microbial mediation of continuous cropping obstacles as well. At the genetic and multi-omics levels, it was outlined as to the characteristics of its whole genome and mitochondrial genome, the analysis of mating-type loci, and the application of metabolomics in species identification and functional component differentiation of G. leucocontextum. The extraction and purification processes, chemical structures, biological activities, and mechanisms of the major bioactive compounds such as triterpenoids and polysaccharides were elaborated, including functions in hypoglycemic, hypolipidemic, antitumor, and neuroprotective effects. Finally, the current challenges in research and industrial development as well as the future prospects were addressed. This review provides a scientific basis for further development and industrial application. |