Volvariella volvaceae also known as paddy straw mushroom, or straw mushroom is an economically significant edible mushroom cultivated on agricultural waste. Paddy straw mushrooms have high nutritional content, rapid growth, and sustainability. They are rich in proteins, vitamins, and minerals. The straw mushrooms are easy to cultivate in tropical and subtropical regions. These mushrooms have potential medicinal properties such as antioxidant activity, anti-diabetic, anticancer, anti tumor properties, anti-inflammatory properties, antimicrobial, anti fungal activity, and cardio protective activity.Paddy straw mushrooms are cultivated using different methods.Despite challenges in cultivation, ongoing research aims to improve yield and quality.