This study was performed to investigate the influence of extracts from mixed culture with Tricholoma matsutake mycelium and Cordyceps militaris mycelium on hypoglycemia in streptozotocin-induced diabetic rats. Experimental animals were divided into 7 groups : normal control group(NC), diabetes control group (DC), positive control group(PC), non-fermented OCM(oriental medicine & cereal medium) extracts group (UM), crude polysaccharide of non-fermented OCM extracts group (UME), fermented OCM extracts group (UF), crude polysaccharide of fermented OCM extracts group (UFE). NC, DC groups were orally administered saline, PC group was orally administered acarbose. UM, UME, UF, UFE groups were orally administered each extract once a day for 14days. Blood glucose level was lower in the all administering OCM extract groups (UM, UME, UF, UFE) than in the diabetes group(p<0.05), and specially UF, UFE groups were similar to tendency of PC group. ALT, ALP activity in OCM groups were not significantly lowered than PC group(p<0.05). AST activity was not different with PC group. The results of this study show that extracts from mixed culture with Tricholoma matsutake mycelium and Cordyceps militaris mycelium may have a beneficial effect on the hypoglycemia.