The antioxidant activity of different polar solvents extracts and the effective substance of Tricholoma matsutake were studied.Dried Tricholoma matsutake Sing was sequentially extracted with petroleum ether,chloroform,ethanol and water,the ethanol extract was fractionated into ethyl acetate and n-butyl alcohol-soluble fractions.Using BHT,Vc as reference,the antioxidant activity of the extracts was evaluated by DPPH radical scavenging and pyrogallol auto-oxidation assay,then quantity of the total polysaccharide,total flavonoids,total phenols of different fraction were analyzed.Results show that all the extracts exhibited some antioxidant abilities in a dose-dependent manner.The ethyl acetate fraction and the water fraction showed the highest antioxidant activity,and the antioxidant activity has correlation with the content of total polysaccharide,total flavonoids,total phenols.