Abstract: In order to further explore the medicinal value of Stropharia rugosoannulata,this paper summarized the growth conditions, cultivation methods, chemical components and pharmacological effects of Stropharia rugosoannulata.It is further put forward that Stropharia rugosoannulata can be developed from the perspectives of planting, production, pharmacological efficacy and application research, develop Stropharia rugosoannulata into health food and medicine, and fully develop its obvious medicinal value.