<p>Fungi are a separate kingdom of organisms that belongs to the eukaryotic domain. Owing to their specific composition, edible mushrooms have long been used as food and in traditional medicine. Many studies have indicated that the bioactive components of mushrooms have properties that can support the human body in the fighting against chronic infectious and non-infectious diseases. The bioactive compounds present in mushrooms, such as polysaccharides, polyphenols, minerals, and vitamins contribute to their medicinal properties, making them valuable for traditional therapies and a promising area of research for the prevention and treatment of various diseases. This review examines the composition and functional properties of various mushrooms. The impact of mushrooms and their components on both non-communicable and communicable diseases have been substantiated, including their role in cancer prevention, adjuvant therapy, and their effects on metabolic syndrome and neurodegenerative diseases. Furthermore, the review addresses the anti-parasitic activity, antiviral effects, prebiotic and probiotic functionalities, and anti-allergic properties of mushrooms. The active compounds present in numerous mushroom species may exert significant therapeutic effects on human health. It is also highlighted that incorporating mushrooms into a balanced diet or utilizing them as supplements may confer numerous health benefits, such as enhanced immune function, improved cognitive performance, and a reduced risk of chronic diseases. This review synthesizes the bioactivity and health benefits of edible mushrooms in relation to specific chronic conditions and may serve as a valuable resource for comprehensively understanding and utilizing mushrooms that have not been previously summarized.</p>