Five freeze-dried mushroom species namely Agaricus bisporus, Coprinus micaceus, Pleurotus ostreatus, Termitomyces clypeatus and T. heimii were extracted separately with dichloromethane:methanol followed by partitioned using hexane, dichloromethane and methanol. Silica gel column chromatography of hexane extract of T. heimii and dichloromethane extract of P. ostreatus afforded 2,4-di-hydroxy-9-octadecenoic acid and 2-hydroxy-9-octadecenoic acid, respectively. The n-hexane extracts of mushrooms were analyzed for the presence of n-alkanes and fatty acid compositions. n-Alkanes were found in T. heimii only. Different extracts of mushrooms were evaluated for antimicrobial activity against a wide range of Gram-positive and Gram-negative bacteria and fungi, general toxicity and antioxidant activity.