Mushrooms are gaining increased importance in the recent years due to its nutritive and therapeutic potential. Awareness about the nutritive and medicinal constituents is essential for the safe and effective use. The present study focuses on the proximate composition, mineral, vitamins contents and bioactive compounds of an edible mushroom Volvariella volvacea. Analysis of the proximate chemical compositions showed moisture content (89.3%), ash (10.7%), carbohydrate (52.2%), protein (32%), crude fat (2.7%), free fatty acid (0.31%), and crude fiber (4.5%). Elemental analysis of the mushroom using XRF revealed the presence of the macro elements, K, Na, Ca, Mg, Cl, P, and S and trace elements Si, Br, Fe, Cu, Zn and Sr in considerable amount. HPLC analysis of the mushroom for fat-soluble vitamins showed vitamin A (0.11mg/kg), Vitamin D (50.71mg/kg) and vitamin K (0.006mg/kg). GC-MS analysis of methanol extract of the mushroom exhibited the presence of thirty nine compounds with 8, 11-Octadecadienoic acid (24.30%) and 9, 12-Octadecadienoic acid (18.84%) found in maximum level. Most of the compounds detected are reported to have medicinal properties. © 2015, Journal of Chemical and Pharmaceutical Research. All rights reserved.