Ectomycorrhizal fungi can produce antifungal compounds in vitro as well as in symbiosis with the host plant that can reduce root diseases. The objective of this study was to isolate antifungal compounds from culture filtrate of Paxillus sp. 60/92, which can form mycorrhizas with Picea glehnii seedlings. Culture filtrate of Paxillus sp. 60/92 showed antifungal activity against Pythium vexans at pH 3-4 but not at pH 5-10, although sterile MMN-b liquid medium (pH 3-10) did not show antifungal activity. Upon separation of antifungal compounds in the culture filtrate, antifungal activity was detected in the organic acid and water-soluble phenolics fractions adjusted to pH 3. Although antifungal activity of individual fractions was lower than that of the culture filtrate, a mixture of these fractions showed antifungal activity similar to that of the culture filtrate. Furthermore, antifungal activity of oxalic acid, which is known to be produced by Paxillus involutus, was increased by mixing with the water-soluble phenolic fraction. Our findings indicate that Paxillus sp. 60/92 produces organic acids and water-soluble phenolics that together show antifungal activity at pH 3-4 against P. vexans.