The hypolipidemic effects of soybeam paste containing mycelia of Phellinus linteus, Cordyceps militaris, Ganoderma lucidum were evaluated in hyperlipidemic rats. Body weight of the rats fed with soybean paste containing mycelia of Ganoderma lucidum (ESG) were significantly lower than control group whereas, there was no significant difference in body weight in order diet groups. Food intake, food efficiency ratio, and liver and kidney weights were not significantly different among the diet groups examined. However, the spleen weight of ESG group was markedly lower than other groups. Significant decreases in serum total cholesterol, LDL-cholesterol and liver total cholesterol were also observed in all diet groups tested. All groups fed with soybean paste containing mycelia of mushroom were also observed in all diet groups tested. All groups fed with soybean paste containing mycelia of mushroom were almost equally effective in increasing plasma HDL level and decreasing the atherogenic index, whereas the ratio of HDL to total cholesterol was significantly increased in all experimental diet groups.