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A systematic study was carried out to compare the chemical composition and biological activities of wood-cultured and sack-cultured Ganoderma lucidum (WG and SG, respectively). The proximate composition, microelement content, and functional compounds of the two different cultivated mushrooms were investigated. Antioxidant and hypoglycemic activities of polysaccharide and phenolic extracts of WG and SG were also investigated. The phenolic extracts exhibited higher antioxidant and hypoglycemic activity than the polysaccharidic extracts, and activities of the