Edible and medicinal fungi are rich in various nutrients and active ingredients, and functional raw materials with stable quality and controllable yield can be obtained by liquid fermentation technology. This paper summarizes the application status of liquid fermentation technology of edible and medicinal fungi and the related regulations of liquid fermentation products of edible and medicinal fungi in food industry. With the improvement of regulations and popularization of liquid fermentation of edible and medicinal fungi in food industry, it is expected to have a bright future for related products development.