Feeding of Pleurotus to hypercholesterolemic rabbits resulted in lowering of total lipids, total cholesterol and glyceride levels of plasma and liver whereas heart lipids were not affected. HDL cholesterol/total cholesterol and HDL cholesterol/LDL cholesterol ratios increased in experimental animals proving antiatherogenic potential of this mushroom. The effect was further supported by the severity of tissue damage as evidenced by histopathological studies. An increase in bile acid excretion could be taken as one of the possible attributes to hypocholesterolemic action of P. florida.