Bread was prepared with different concentrations of Pleurotus eryngii powder ($2.5{sim}10.0%$), and the fermentation characteristics were investigated. While pH of dough increased, fermentation power of dough expansion by fermentation decreased with the increase of Pleurotus eryngii powder added. Although bread weight decreased, there were no significant differences in dough weight, dough yield and baking loss as Pleurotus eryngii powder content increased. In case of volume and specific volume, they were significantly decreased as Pleurotus eryngii powder content increased. Size of bread decreased gradually and aircell uniformity became bigger and random as Pleurotus eryngii powder content increased. As the results of color values, L and b values of crust decreased; however, there was no significant difference in a value. L value of crumb decreased although a and b values increased by adding the Pleurotus eryngii powder content. In the textual characteristics, hardness, gumminess and brittleness of bread significantly increased as Pleurotus eryngii powder content increased. Cohesiveness and springiness of bread decreased as Pleurotus eryngii powder content increased. In case of free amino acid, Glu content was the largest in most samples and most amino acid contents increased by adding the Pleurotus eryngii powder content except for Asp. In descriptive test, scores of color, flavor, hardness and palatability increased, however aircell uniformity, springiness and moistness decreased as Pleurotus eryngii powder content increased. As the results of preference test, color was the best preferred in control${sim}5.0%$ groups without significant difference. The preference of flavor and texture was in the order of 2.5% group> 5.0% group> 7.5% group> control> 10.0% group as 2.5% group was the most preferred.