As part of studies to develop new materials to lower blood glucose levels using crude polysaccharide, this study was attempted to analyze the characteristics of crude polysaccharide obtained from the extracts of a mixed herbal medium(OCM) where Trichloloma matsutake mycelium and Cordyceps militaris mycelium were cultured together and to look into the influence of administering these by concentration upon the blood glucose and serum lipid levels of rats with diabetes which was induced by STZ(Streptozotosin). Experimental group was divided into 6 groups: first, it was divided into normal control group(NC group) and diabetes-induced group, and diabetes-induced group was subdivided into diabetic control group(DC group), acarbose-treated group(PC group), 100 mg/kg/body weight-treated by crude polysaccharide of OCM(UE) group(UE100 group), 200 mg/kg/body weight-treated group(UE200 group), and 300 mg/kg/body weight-treated group(UE300 group). In diabetic-induced groups, after streptozotocin was melted in 0.01M citrate buffer at 50 mg/kg/body weight, when the non-fasting blood glucose level not on an empty stomach was 300 mg/dl or more in blood collected from the tail vein, it was regarded as diabetic induction and then such diabetic-induced experimental animals were used in this experiment. The yield of crude polysaccharide obtained from OCM was found to be 0.31% and the ${eta}$-glucan content 39.40%. As a result of analyzing NO on immune function, which is known as major physiological activity of crude polysaccharide, high NO viability was shown; when 1 mg/ml LPS was treated at 1 ug/ml, it was found to be 50.77 uM, and when LPS was treated at 10 ug/m, it was found to be 53.78 uM. Also, regarding cancer cells, cell count was decreased by about 26% in proportion to sample concentration, while for normal cells, it was a little decreased in proportion to concentration, however, cell count was maintained in the range of $81.92{sim}98.16%$ at all concentrations. In case of blood glucose level, it was decreased in all extract-treated groups compared to DC group and in the cases of ALT and AST, they were found to be lower in extract-treated groups compared to PC group and for serum lipid, it was found to be lower in UE100 group compared to PC group. Thus this study tried to utilize these results as fundamental data for development of preventive and therapeutic agents against diabetes as well as functional foods using the crude polysaccharide of mushrooms.