Physiological activities of pileus and stipe extracts from fresh Pleurotus eryngii were examined. Electron donating ability (EDA), superoxide dismutase (SOD)-like activity, tyrosinase inhibitory effect, angiotensin converting enzyme (ACE) inhibitory activity, total polyphenol contents and nitrite scavenging ability were examined for extracts of pileus and stipe of Pleurotus eryngii extracted with water, $50\%$ and $100\%$ ethanol. Volume of the solvent used was 50 time of sample on a weight/volume basis. EDA was $88\%$ in $50\%$ ethanol extract (pileus). Also, SOD-like activity was $62.57\%$ in water extract (pileus). Tyrosinase inhibitory effects of all samples were higher than $0.1\%$ L-ascorbic acid solution. ACE inhibitory activity of water extract of pileus was found to be the highest value of $95.14\%$. In addition, total polyphenol contents were the highest in water and $50\%$ ethanol extracts of pileus $(1427.25;mg\%,;1426.82;mg\%)$. Finally, nitrite scavenging ability of $50\%$ ethanol extract of pileus at pH 1.2 showed approximately $95\%$. The results will be useful for understanding the physiological activities of Pleurotus eryngii extracts.