Abstract: Objective:To optimize the extraction process of Coriolus versicolor polysaccharides by compound enzymatic hydrolysis, and study its antioxidant activity.Methods:On the basis of single factor experiment, a text of four factors at three different levels which used the method of Box-Behnken was designed, including the enzyme concentration, p H, time and temperature of enzymatic hydrolysis, meanwhile the respond value was polysaccharide rate, with the response surface methodology to optimize the extraction conditions of Coriolus versicolor polysaccharide.By the research of the scavenging DPPH free radicals, hydroxy radica, we can discuss the antioxidant ability of Coriolus versicolor polysaccharides.Results:The optimum extraction conditions are obtained:at the p H5.50 and 52℃, the enzymatic hydrolysis time was 37 min, and the enzyme concentration was 2.50%, the extraction rate could reach 9.87%in theory, but the actual extraction rate was 9.58%, which raised 43.63%compared with the traditional hot water extraction.The half maximal inhibitory concentration of·OH, O₂^-·and DPPH radicals were 0.80, 0.75, 0.75 mg/m L, respectively.The total antioxidant activity increased with the increasing concentration of polysaccharides.Conclusion:The method of compound enzymatic hydrolysis has the advantages of mild conditions, simple reaction and high efficiency, which can apply in the practical extraction process of Coriolus versicolor polysaccharide.It has good antioxidant activity and is worth to develop for application.