We evaluated the antioxidant properties of Lentinula edodes upon sawdust bag cultivation with 5 oak substrates: Quercus acutissima, Q. mongolica, Q. serrata, Q. aliena, and Q. variabilis. We found that the optimal extraction conditions were 70% (v/v) methanol shaken at 150 rpm at 25°C and 150 rpm for 24 h. The methanolic extracts from L. edodes contained high phenolic and flavonoid contents, they also exhibited stronger antioxidant activities. The total phenolic contents and total flavonoid contents of the mushroom extracts ranged from 2.37 to 3.12 milligrams of gallic acid equivalents per gram of dried mushroom (mg GAE/g) and 0.48 to 0.48 milligrams of quercetin equivalents per gram of dried mushroom (mg QE/g), respectively. In addition, the mushroom extracts exhibited 2,2-diphenyl-1-picrylhydrazyl radical scavenging activity (15.8% to 89.4%) at 2 to 10 mg/mL, ferric reducing antioxidant power (0.153 to 0.425) at 5 to 20 mg/mL, and reducing power (0.078 to 0.359) at 5 to 20 mg/mL, respectively. Q. aliena more effectively increased total phenolic contents, total flavonoid contents, and antioxidant activities than the other oak substrates.