Mushrooms do not constitute a significant portion of the human diet, but their consumption continues to increase
due to their functional benefits and presence of bioactive compounds. Some of those compounds can be found in the phenolic,
polysaccharidic, and lipidic fractions of edible and inedible species. Herein, those fractions of five wild mushrooms (Coprinopsis
atramentaria, Lactarius bertillonii, Lactarius vellereus, Rhodotus palmatus, and Xerocomus chrysenteron) from northeastern Portugal
were studied for their chemical composition and antioxidant properties. Protocatechuic, p-hydroxybenzoic, p-coumaric, and
cinnamic acids were found in the phenolic fraction; rhamnose, xylose, fucose, arabinose, fructose, glucose, manose, mannitol,
sucrose, maltose, and trehalose were quantified in polysaccharidic fraction; and linoleic and stearic (only in Lactarius sp.) acids,
and β- and γ-tocopherols were the main compounds in the lipidic fraction. C. atramentaria and X. chrysenteron phenolic fractions
gave the highest free radical scavenging activity, reducing properties, and lipid peroxidation inhibition in brain homogenates,
which is in agreement with its highest content in total phenolics. Furthermore, among the polysaccharidic fractions C.
atramentaria also gave the highest antioxidant activity, which is in agreement with its highest total polysaccharides content and
sugars obtained after hydrolysis.