The effects of liquid culture of Coriolus versicolor on weight gain, food intakes, food efficiency ratios, serum and hepatic lipid concentrations, serum protein levels and serum enzyme activities, were studied in growing male rats. Sprague-Dawley rats were given four different types of diets for a succeeding period of 5 weeks, respectively: a normal diet group (7% corn oil), a high fat diet group (7% corn oil＋15% lard), a 20% or 30% C. versicolor diet groups (high fat diet＋20% or 30% C. versicolor in water) according to the levels of C. versicolor supplementation. The body weight gains of the rats fed the 30% C. versicolor diets were lower than those in the rats fed high fat diet. The epididymal fat pad weight of the rats fed high fat diet and 20% or 30% C. versicolor diets were significantly higher than that of the rats fed normal diet. The concentrations of triglyceride in the serum and the liver of the rats fed the 30% C. versicolor diets were more significantly decreased compared to rats on the high fat diet. The concentrations of total cholesterol in the serum and the liver of rats fed the high fat diet, 20% and 30% C. versicolor diets were similar to those of rats fed the normal diet. The HDL-cholesterol concentration and the HDL-cholesterol/total-cholesterol ratio of the rats fed 20% and 30% C. versicolor diets were significantly lower than those of the rats fed high fat diet. But the antherogenic index of the rats fed 20% or 30% C. versicolor diets were significantly higher than those of the rats fed high fat diet. There were no differences in the activities of glutamic oxaloacetic transaminase, glutamic pyruvic transaminase and alkaline phosphatase in the serum among the experimental groups. These results showed that the 30% C. versicolor diet feeding decreased the triglyceride in serum and liver of the rats. (Korean J Nutrition 37(2): 88-94, 2004)