Edible fungi, especially medicinal mushrooms, have a wide range of bioactive phytoconstituents that have the potential to provide health advantages, particularly in combating chronic conditions. Multiple edible mushrooms are being researched for their anticancer effects and have been the focus of multiple clinical trials. Mushrooms possess antimicrobial properties, strengthen the immune system, and reduce cholesterol levels. Recent medical studies have demonstrated the immunomodulatory benefits of edible mushrooms. Polysaccharides derived from mushrooms are recognized for their significant immunomodulating effects on both the innate and adaptive immune systems. This chapter examines a thorough evaluation of the bioactive phytoconstituents found in edible mushrooms, along with their ability to modulate the immune system. It also discusses the methods by which these mushrooms support the immune system, the many species of edible mushrooms, and their properties for enhancing immune function. The chapter also examines scientific studies about the role of edible mushrooms in immunological support, potential allergies and sensitivities, as well as challenges, limitations, and future perspectives of immune-boosting properties of edible mushrooms.