The oyster mushroom was cultivated from the saw under the acquired conditions. The saw was kept moistured being kept in poly bags and the temperature was maintained at 250C. The oyster mushroom so cultivated was yellowish white in colour. The mushroom was dried under suitable conditions and was powdered, and the extraction was carried out as Soxhlet extraction using ethyl acetate, ethanol and water as solvents. Every extract was analysed for the qualitative phytochemical determination and antioxidant power determined using DPPH method. Different extracts show different phytochemical contents and as per the antioxidant power is taken into consideration the IC50 Value for Ascorbic Acid is 29.98 μg/ml, Ethyl acetate extract of Oyster mushroom is 49.30 μg/ml, Ethanol extract of Oyster mushroom is 42.44 μg/ml and water extract Oyster mushroom 50.65 μg/ml. The ethanol extract showed highest antioxidant power fallowed by ethyl acetate and water extract.