Polysaccharides were extracted from eight kinds of Chinese mushrooms using three solvents and were evaluated for their total carbohydrate, polyphenolic and protein contents, and antioxidant and anti-proliferation activities. The results suggested that all the polysaccharides had significant antioxidant capacities (EC50 ranged from 1.70 +/- 0.42 to 65.98 +/- 1.74 mu M TE/g crude polysaccharide inhibition of ABTS(+), EC50 ranged from 5.06 +/- 0.12 to 127.38 +/- 1.58 mg VCE/g CP scavenging of OH center dot and EC50 ranged from 0.70 +/- 0.04 to 33.54 +/- 0.49 mg VCE/g CP inhibition of lipid peroxidation) (TE: trolox equivalent; VCE: VC equivalent; CP: crude polysaccharide). The acid extracts of Russula vinosa Lindblad had the highest ABTS(+) scavenging activity. Aqueous extracts of Dictyophora indusiata and Hohenbuehelia serotina possessed, respectively, the highest OH center dot scavenging capacity and ability to inhibit lipid peroxidation. Mushroom extracts also inhibited proliferation of HeLa and HepG2 cells in a dose-dependent manner. These results indicate that the mushroom polysaccharides might be potential antioxidant resources.