Comprehensive analysis of the transcriptome of the P. chrysosporium is a useful approach to improve our understanding of its special and unique enzyme system and fungal evolution in molecular and industrial aspects. In order to unveil the functional diversity of this white-rot fungus in gene level and the expression patterns of its genes, in this study we carried out sequencing and annotation of 4,917 P. chrysosporium expressed sequence tags (ESTs). Through our bioinformatic ESTs analysis, we elucidated that 1,751 genes were derived from the present dataset of 4,917 ESTs, based on clustering and comparative genomic analyses of the ESTs. Of the 1,751 unique ESTs, 1,006 (57.5%) had homologues and orthologues in similarity searches. Our P. chrysosporium ESTs showed many genes for encoding 23 secreted proteins, many proteins for the degradation of cellulose and hemicelluloses, and heat shock proteins for stress resistance, which explain the reason why P. chrysosporium is very important and unique white-rot fungus in dealing with contaminated resources and in degrading lignin and in applying this organism to several industrial aspects. In addition, comparative analysis has shed the fresh light on the mystery about how its unique enzyme system and stress resistance have been evolved differently from its closest relatives.