We collected wild mushroom, Sarcodon aspratus from Deogyu Mt. of Muju, Jeollabuk-do and physiological functionalities of its water extract were investigated. The water extracts from S. aspratus showed the highest antihypertensive angiotensin I-converting enzyme (ACE) inhibitory activity of 74.3% and also showed high anti-gout xanthine oxidase (XOD) inhibitory activity (59.6%). However, tyrosinase inhibitory activity was very low (17.3%), and antioxidant activity and SOD-likely activity were not detected. The ACE inhibitory activity of S. aspratus fruiting body was the highest when powder of the fruiting body was shaked at 30 oC for 24 h by distilled water. Furthermore, the XOD inhibitory activity was also the highest by extraction at 50 oC for 24 h with water.