In order to investigate the totale yield, the content of soluble polysaccharide and the others of FEW extract from the yeast fermentated Ganoderma lucidium by supersonic method, the yeast strain was inoculated after pretreatment and subsequently followed fermentation and supersonic extract. The main construction of the extract method is composed of the main glucose and together with the xylose, fucose, galactose and mannose. Results show that because of the generated lactic acid and ethanol, pH value of extract decreases and the safety as well as the preservation is improved. The extract yield, the total soluble polysaccharide, SOD-like activity, cytotoxic effect and growth inhibitory effect against cancer cell line are much higher in FE method than RE method, especially FEW3 extracts fermented during 24hrs. It is concluded that yeast fermentation makes the extract yield increase because of the cell disintegration, the useful ingredients of the germ body, the metabolic products, the insoluble ingredients due to the generation of ethanol, and the cell fragmentation caused by the supersonic waves vibration. Content of generated ethanol, total soluble polysaccharide and extract yield all increase during the fermentation time from 24 to 72 hours and the optimum fermentation condition is at $27^{circ}C$ for 72 hours. The bitter taste and smell of the Ganoderma lucidium extract is diminished, fragrant-bitter taste and smell is generated so that the whole functional quality is improved.