Fungi are non-photosynthetic, eukaryotic organisms which grow as single cells (Yeasts) or as multicellular filaments (Moulds / Fungi), acquiring nutrition by absorption from their surroundings. Mushrooms alone are represented by about 41,000 species, of which approximately 850 species are recorded from India. In nature, mushrooms grow wild in almost all types of soils, on decaying organic matter, wood stumps, etc. They appear in all seasons; however rain favors rapid growth when organic matter or its decomposition products are easily available. Environmental factors such as temperature, humidity, light and host trees are very important for development of fruiting body. Pleurotus djamor var. roseus is an edible mushroom, contain rich source of nutrients and is popularly cultivated for edible purpose worldwide. However, the medicinal properties of P. djamor var. roseus are not well documented. Hence, the present study was focused on isolation, purification and characterization of medicinally important polysaccharide.