The love affair of Asian’s with Ling zhi, the Chinese name for Ganoderma lucidum and related species can be traced back over two thousand years. Ganoderma lucidum has been used for a broad spectrum of health benefits from preventive measures and maintenance of health to the regulation or treatment of chronic as well as acute life threatening illness. The present study was done to compare the Aqueous and methanolic extract of Ganoderma lucidum for anthelmintic activity and to compare the methanolic and chloroform-acetone extract of Ganoderma lucidum for antibacterial activity. Aqueous extract of mushroom did not show any result for anthelmintic activity, while the methanolic extract (60 mg/ml) was equally effective as standard (Albendazole 20 mg/ml). For antibacterial activity both the methanolic (350 mg/ml) and chloroform-acetone (350 mg/ml) extracts showed effective results, but the results of choloroform-acetone extract were more effective than methanolic extract and standard (Gentamycin 40 mg/ml). Key words: anthelmintic, antibacterial, methanolic extract, aqueous extract.