Species of mushrooms of the genus Ganoderma from antiquity are used in traditional healing systems, among others in Chinese medicine (TCM). In the mycochemical studies with the use of modern analytical methods, a number of their pro-health activities were confirmed, and new directions of biological activity of extracts or individual compounds isolated from fruiting bodies and from biomass obtained in vitro were demonstrated. The most popular species of the genus Ganoderma in Poland is Ganoderma applanatum (Pers.) Pat. (artist's conk). In this paper was characterized by the morphology of this species, the main chemical groups of compounds and possible therapeutic applications confirmed by scientific research. This article is a review of the latest research of chemical and biological both of the fruiting bodies and biomass from the mycelial cultures of Ganoderma applanatum.