To produce the functional food materials, 50 kinds of the mycelial extracts from edible mushroom were examined for anticoagulant activity and Phellinus linteus showed the highest activity through the activated partial thromboplastin test (aPTT). The maximum production of anticoagulant activity and the mycelial growth was observed in culture medium containing soluble starch 3.0%, peptone 0.1%, MgSO₄·7H₂O 0.1%, K₂HPO₄ 0.1% and in the culture conditions controlled at initial pH 7.0, 30 oC and 150 rpm by the rotary shaker. In addition, the maximum production of mycelial dry weight was 7.5 mg/mL after 10 days under the optimal conditions, and anticoagulant activity was reached to 390 sec in 5 L-jar fermentor.