<p><i>Pleurotus</i> species (oyster mushrooms) are edible macrofungi of increasing prominence due to their nutritional value, medicinal properties, and biotechnological applications. They are rich in proteins (≈ 20–30% dry weight), essential amino acids, dietary fiber (≈ 10–25%), vitamins (B-complex, D₂), and minerals, while continuing low in fat and calories. These fungi produce varied bioactive compounds, including β-glucans, polysaccharides, phenolics, flavonoids, ergothioneine, and lovastatin, which are related with antioxidant, antimicrobial, anti-inflammatory, antidiabetic, immunomodulatory, and anticancer activities. Internal Transcribed Spacer (ITS) sequencing and multi-gene phylogenetic evaluates are two recent developments in molecular taxonomy that have enhanced genetic characterization and species-level documentation. In terms of ecology, <i>Pleurotus</i> species are essential for the biotransformation of environmental contaminants, nutrient recycling, and lignocellulosic degradation. Functional foods, nutraceuticals, mycoremediation, industrial enzyme production, biocontrol, and developing fields like bioelectronics are just a few of their biotechnological uses. This study fills up the gaps left by previous studies that concentrated on discrete applications by integrating prevailing molecular, biochemical, and practical research to show how <i>Pleurotus</i> species connect nutrition, medicine, and sustainable biotechnology.</p> Graphical abstract <p></p>