The production of polysaccharide according to various developmental stages(mycelium growth, primordium appearance, and fruiting-body formation) in the edible mushroom Grifola frondosa was studied. The cap of the mature mushroom showed the highest amount of polysacchride. Mycelial growth and polysaccharide synthesis were optimal at pH 5 and $20^{circ}C$. Polysaccharide synthesis was maximal after 12 days of cultivation, whereas maximum mycelial growth was shown after 18 days. Mannose, cellobiose and starch increased the level of polysaccharide as well as growth in submerged culture. Glucose and sucrose appeared to be good substrates for fruiting of Grifola frondosa.