Ganoderma lucidum is used for the treatment and prevention of many ailments including arthritis, hepatitis, hypercholesterolemia, bronchitis, gastric cancer and hypertension. In this study we have evaluated the potential anxiolytic-like activity of the mushroom in mice models of anxiety. Light/dark box and elevated plus maze test were used to evaluate the anxiolytic-like activity of ethanol extract of fruiting bodies and cracked spores of Ganoderma lucidum. The extract was given orally by gavage at the dose of 20 mg/kg, 75 mg/kg and 130 mg/kg body weight. Diazepam (1 mg/kg i.p.) was used as the standard drug. The results reveal that Ganoderma lucidum demonstrated significant increase in the time spent in light cubicle when compared with the control group in light/dark box test and the results of elevated plus maze test reveal that Ganoderma lucidum, showed significant increase in the time spent in open arms and number of open arm entries when compared with the control group. Overall evidences propose that ethanol extract of Ganoderma lucidum has anxiolytic activity which is comparable to 1 mg/Kg diazepam.