Here we determined metal concentrations, and antioxidant, antimicrobial and anticancer potential of two edible mushrooms Agaricus campestris and Boletus edulis. The concentrations of nine metals were determined and all metals are present in the allowable concentrations. Antioxidant activity was evaluated by free radical scavenging ability and reducing power. B. edulis had more potent free radical scavenging activity (IC50 = 266.32 µg/mL) than A. campestris. Moreover, the tested extracts had effective reducing power. The total content of phenol was examined using Folin-Ciocalteu reagent and the obtained values were expressed as pyrocatechol equivalents (PE). Furthermore, the antimicrobial potential was determined by a microdilution method. A. campestris showed a better antimicrobial activity with MIC values ranging from 2.5 to 20 mg/mL. Finally, the cytotoxic activity was tested using MTT method on the Hela, A549 and LS174 cells. A. campestris expressed stronger cytotoxic activity toward all cell lines with IC50 values ranging from 18.66 to 31.55 μg/mL.