The biological activity ascribed to the Marchantiophyta is due mainly to sesqui- and diterpenoids and phenolic compounds. Novel terpenoids, phenolics and acetogenins showing characteristic scent, hot-taste, allergenic contact dermatitis, cytotoxicity, insect antifeedant, anti-HIV, superoxide radical release inhibitory, antimicrobial, antifungal, muscle relaxing, apoptosis inducing activity against HL-60, NO production inhibitory activity, liver X receptors agonist/antagonist activity have been isolated from the Marchantiophyta (Blasiaceae, Frullaniaceae, Jungermanniaceae, Lejeuneaceae, Marchantiaceae, Pelliaceae, Plagiochialceae, Porellaceae and Aytoniaceae) species. The chemical constituents of 24 inedible mushroom species belonging to five families, Scutigeraceae, Polypolaceae, Xylariaceae, Thelephoraceae and Paxillaceae were studied. Various type of chemical substances including p-terphenyls, cytochalacines, pregnanes, azaphilones, binaphthyls, lanostanes, 3(R)-hydroxybutyric acid, its dimmer and trimer which showed a broad activity of in many biological systems, such as antimicrobial, antinematicidal, NO production and TNF-α release inhibitory activity, anti-HIV, anti-HSV and antioxidant activities were isolated and their structures characterized.