Abstract: The bioactive, proximate and vitamin composition of two wild macro fungi, found in Nigeria were investigated. The macro fungi, Schizophyllum commune, (split gill mushroom) and Polyporus sp. (bracket fungi) were obtained growing on dead logs of mango (Mangifera indica) and Iroko (Chlorophora excelsa), respectively. The fruit-bodies of the fungi were harvested fresh, dried, ground and analysed using Association of Analytical Chemists methods and other standard methods. The results of the analyses showed that the macro-fungi contained the bioactive compounds, alkaloids, flavonoids, phenols, saponins and tannins in varying quantities. The fungi are equally rich in proteins, vitamins and mineral elements. Flavonoids occurred more in S. commune, than in Polyporus sp. while there is more saponins in Polyporus sp. than in S. commune (0.40 mg/100 mg). Furthermore phenols and tannins occurred more in S. commune than in Polyporus sp. On the other hand, Polyporus sp. contained the highest amount of ash, fat crude protein, crude fibre, carbohydrates and moisture than S. commune. S. commune is richer in ascorbic acid and niacin than Polyporus sp. whereas riboflavin and thiamin of Polyporus sp. appeared more than those of S. commune. The mineral elements of S. commune of calcium potassium and sodium are higher than those of Polyporus sp. of calcium, potassium and sodium, while the magnesium, nitrogen and phosphorus of Polyporus sp. are higher than those of S. commune. The result obtained from the analyses of the two macro fungi has been discussed in relation to their prospects for medicinal purposes.