Abstract Fungal metabolic rates could increase under climate warming but may be counteracted by mechanisms of physiological acclimation and evolutionary adaptation. We hypothesized that Vmax and Km parameters of Neurospora discreta extracellular enzymes would acclimate to warmer temperatures through compensatory mechanisms. We also predicted that evolution under warmer temperatures would alter enzyme parameters and fungal respiration through adaptive mechanisms. In contrast to these predictions, growth at higher temperature (22 °C versus 16 °C) increased the temperature-corrected Vmax of three enzymes. The carbon substrate used for fungal growth (lignin versus sucrose) had a much greater impact on enzyme Vmax than temperature. Following experimental evolution, the enzymatic parameters of Neurospora strains did not adapt to higher temperatures as hypothesized; rather, enzyme Vmax values were unaffected, and respiration rates increased. Together, these results suggest that physiological and evolutionary mechanisms are unlikely to counteract soil carbon losses driven by saprotrophic fungi under climate warming.