Abstract: The aim of this paper was to investigate the effects of exogenous inducers on the triterpenoid contents of Inonotus obliquus mycelium by liquid fermentation and the antioxidant activity of mycelium alcohol extracts.The results showed that:Methyl jasmonate (MeJA), salicylic acid (SA), linoleic acid, birch bark water extract, Fe²⁺ as inducers could increase the content of triterpenoids in mycelium and improve the antioxidant capacity of its isopropanol extracts. The effect of MeJA was the best. When 50 μmol/L was added in 6th day, the amount of mycelium was (10.05±0.01) g/L, and the average triterpene content of mycele was (107.72±1.07) mg/g and the total amount was 1082.19 mg/L. Compared with the control group without inducer, the total amount of triterpenes increased by 119.96%. In the antioxidant capacity test, the IC₅₀ of the total reducing power of 1.003, DPPH free radical, hydroxyl radical and superoxide anion radical induced by MeJA induced by MeJA was 0.091, 1.657, 0.024 mg/mL, respectively. Compared with the control group, the total reducing ability and the free radical scavenging rate were increased by 46.67%, 53.23%, 32.17% and 30.30%, respectively.The result can provide scientific basis for the application of inducers in increasing the yield of triterpenoids and develop new antioxidants.