Background: Cancer, as one of the most life-threatening diseases, has attracted the attention of researchers. Recently, antitumor drugs and other biologically active compounds have been discovered in many mushroom species. The aim of this study is to the anti-cancer activity of polysaccharide-protein complexes. Methods:  This study applies new method for the extraction, isolation and purification of polysaccharide-protein complexes and identifies the anticancer effect. MTT assay counts the number of live cells by measuring mitochondrial activity. 3-(4, 5-dimethylthiazol-2-yl)-2, 5-diphenyltetrazolium bromide (MTT), a yellow substrate, is converted by active mitochondria into the purple product formazan. Results: The results of the analysis showed that the highest amount of mushroom powder was protein (37, 9%), carbohydrates (23, 82%), as the results of the mushroom extract used in this study showed. LC/HPLC showed that the presence of high content of protein 53 that, play potent role in anti-cancer activity. The effect of polysaccharide-protein complexes on normal cells was low (IC50 74.65 μg/mL), while, the effect on liver cancer cells was moderate (IC₅₀ 56.2 μg/mL), and the effect on colon cancer cells was high (IC₅₀ ± 23.1μg/mL). Conclusion: Mushroom powder and extract are readily available as a source of polyphenolic-polysaccharide-protein complex with key antioxidants which are functional food components as they affect physiological and biochemical processes leading to better health and improved health status in cancer patients.