For a very long time, diverse civilizations all over the world have recognised that mushrooms, which are the fruiting bodies of fungi, have medicinal characteristics and used to treat different kinds of human diseases. As a result of intensive research, the bioactive components of mushrooms used in Asian traditional medicine have been determined. The present investigation was designed to assess the GC–MS and molecular characterization along with proximate and mineral content properties of Ganoderma lucidum and Pleurotus ostreatus wild mushrooms. For the molecular identification of ITS metagenomics is used. For the compound identification GC–MS is used. Standard procedures are used to determine the proximate and mineral composition. A maximum dry matter contents present in P. ostreatus (96.21±0.068 %) and G. lucidum has (95.13±0.72 %). High content of moisture present in G. lucidum (4.87 ± 0.057 %) as compared to P. ostreatus. A vital amount of crude fibre in present in G. lucidum. G. lucidum has high amount of crude protein (21.87± 0.044 %), while P. ostreatus has 13.66 ± 0.80. An appreciable amount of nutritionally vital carbohydrate is present in P. ostreatus (65.15±0.946) followed by G. lucidum (34.12 ± 0.451). Higher amount of energy value (315.37±2.173 %) present in P. ostreatus as compared to G. lucidum 195.07±1.631 %, furthermore, high nitrogen free extract (61.1 ± 0.946 %), and a high free fatty (2.44±0.064 %) are present in P. ostreatus. Iron (Fe), and Copper (Cu) were abundant in G. lucidum while Zn and Mn is in lower amount. The P. ostreatus contain maximum amount of Fe followed by Zn, Mn and Cu. The FT-IR spectra of G. lucidum shows alcohol, vinyl/phenyl ester, and alkane methylene and aldehyde groups. Conjugated ketone, aliphatic ether and phenols groups present in P. ostreatus. Seventy bioactive compounds were identified in G. lucidum and P. ostreatus through GC–MS. Theses compounds contain the biological activities like; antimicrobial, antioxidant, cytotoxicity, antitumor, anticancer, anti-inflammatory and anti-androgenic. Blast sequence analysis of at NCBI shows 99 % similarities and successfully confirmed with Ganoderma lucidum (OQ117088) and Pleurotus ostreatus (OQ119156).