Mushrooms are a rich source of bioactive compounds with significant nutritional and medicinal properties. These compounds exhibit a wide range of bioactivities, such as antioxidant, anticancer, antidiabetic, antimicrobial, and immunomodulatory effects. Recent research trends have focused on extracting these bioactive compounds, especially from mushroom waste, for applications in the food and packaging industries. For this, conventional extraction methods, such as hot water extraction and maceration, are widely used but face limitations, including high energy consumption, extensive solvent use, and potential degradation of bioactive compounds. To address these challenges, novel techniques such as microwave-assisted extraction, ultrasound-assisted extraction, supercritical fluid extraction, and enzyme-assisted extraction have been developed, offering improved efficiency. However, these methods still require further optimization. This chapter explores the impact of various extraction techniques on the recovery of bioactive compounds from mushrooms, highlighting their advantages and limitations.