Objective: This study aims to investigate the effect of different drying methods on the drying characteristics and volatile flavor of Stropharia rugosoannulata as raw material. Methods： The fresh S.rugosoannulata was dried by freeze-drying, heat pump drying, hot air drying, and microwave drying, and then the physical and chemical indexes were investigated. Results: The contents of crude protein, crude fat, ash, potassium, calcium, total flavonoids, essential amino acids, flavor amino acids and total amino acids are the highest in freeze drying. The six teenamino acids achieved 16.88 g/100 g in the freeze-drying. The rehydration rate and color all play the best performance in freeze drying. The scavenging rate of DPPH radical of S. rugosoannulata polysaccharide reached 61.14% in hot air drying; The rate was hot air drying>heat pump drying>microwave drying>freeze drying. Similarly, the scavenging rate of ABTS radical reached 67.97% in heat pump drying; The rates were heat pump drying>hot air drying>microwave drying>freeze drying. The monosaccharide of S. rugosoannulata is mainly composed of glucose Glc and Galactose gal, among which the content of freeze-dried glucose Glc is the most, accounting for 36.79% of the total sugar; The maximum molecular weight of S.rugosoannulata was freeze-drying; The volatile flavor of S.rugosoannulata different under different drying methods, and the volatile flavor of S. rugosoannulata after drying is quite different from that of fresh S. rugosoannulata. The volatile components in freeze-dried S. rugosoannulata are the most abundant, and some components are high. Conclusion: Freeze-drying has advantages over other drying methods in terms of nutritional composition, rehydration rate, color, and flavor. It has the least impact on the quality of S. rugosoannulata and is the most suitable drying method.