Cordyceps militaris, a parasitic fungus of the family Clavicipitaceae, is well known for its vital therapeutic properties, which include anti-tumor, anti-inflammatory, and antioxidant actions. This work details the collection, authentication, and macroscopic and microscopic assessment of C. militaris. The ethanolic extract has to be prepared and subjected to preliminary phytochemical screening to identify the phytoconstituents, such as carbohydrates, proteins, phenolics, flavonoids, tannins, glycosides, alkaloids, saponins, steroids, and triterpenoids. The ethanolic extract’s quality and purity are assessed using physicochemical parameters, including moisture content, ash value, and extractive value.