Abstract: The wild-type strain was identified by comparison of biological characteristics and ITS sequencing. The contents of polysaccharides and triterpenoids in this strain were evaluated by submerged fermentation and effective component analysis.The results confirmed that the wild-type strain was G. flexipes. Active ingredient analysis showed that triterpenoids in mycelial ( 8.85 mg/g) and fruiting body ( 9.67 mg/g) of wild-type strain were significantly higher as comparing with the reference strain ( p < 0.05) . However, polysaccharides content were significantly lower in fermentation broth ( 6.59 mg/m L) of wild-type strain than that of the reference strain ( p < 0.01) .Whereas, polysaccharides ( 23.70 mg/m L) were 2.56 times higher in fruiting body of wild-type strain as comparing with the reference strain ( p < 0.01) . HPLC analysis of the fruiting body extract showed a low prominent single peak with others non-significant low peaks of triterpenoids in the wild-type strain.Results also indicated that the wild-type strain has great potential for polysaccharides production and extraction of these components could be increased with optimized cultivation techniques.