Shiitake mushrooms are prized for their unique flavor and bioactive properties. While there has been extensive research on drying methods, a comprehensive investigation of the effects of drying parameters in the dry-moist-heat system on shiitake quality is still needed. This study aimed to investigate the effects of dry-moist-heat aging on dried shiitake mushrooms comprehensively. Four aging temperatures, specifically 50, 60, 70, and 80 °C, were applied to the mushrooms, maintaining a constant humidity level of 75% RH and aging duration of 20 days. Color analysis revealed a progressive decrease in measured values as aging temperature increased, indicating noticeable changes in visual characteristics. Regarding amino acid composition, glutamic acid was found to be the predominant amino acid in shiitake mushrooms in the range of 90.29-467.42 mg/100 g. However, aging led to a reduction in overall amino acid content, with higher aging temperatures resulting in greater decline. Similarly, the equivalent umami content (EUC) also decreased (from 123.99 to 7.12 g MSG/100 g) with the increase in aging temperatures up to 80 °C, suggesting a decline in the overall umami taste sensation. Interestingly, despite the reduction in amino acid levels and umami content, the aging process positively impacted the phenolic compounds and the antioxidant activity of dried shiitake mushrooms. The antioxidative abilities of all aged mushroom extracts for DPPH, ABTS, and FRAP ranged from 65.01 to 81.39 µg TE/mL, 87.04 to 258.33 µg GAE/mL, and 184.50 to 287.68 µg FeSO4/mL, respectively. The utilization of aged temperature at 60 °C for 20 days with controlled relative humidity (~75%) should be a suitable aging condition of this edible mushroom with both antioxidant and umami qualities. Nevertheless, the control sample demonstrated higher levels of amino acid content and EUC compared to the aged samples. Conversely, the aged samples exhibited higher polyphenol content and greater antioxidant activity. Depending on specific requirements, these powders can be used in food formulation as flavor enhancers for control samples or as enriching agents for polyphenols and antioxidant activity in matured samples. Therefore, all of the powders obtained have potential applications in the field of nutrition.