Five polysaccharide fractions (AC-1, AC-2, AC-3, AC-4, and AC-5) were obtained after systemic solvent extractions and precipitations from Antrodia camphorata mycelia with yields of 2.92, 10.38, 1.65, 0.34, and 1.64%, respectively. Gel permeation chromatography (GPC) analysis showed that the distribution of mean molecular mass of the fractionated polysaccharides was in the range of 394-940 kDa. The proximate compositions from each polysaccharide fraction revealed that all fractions belonged to the category of glycoprotein, having ratios of carbohydrate/protein ranging from 0.29 to 10.79 (w/w). Glucose or galactose was the major monosaccharide in all fractions except fraction AC-2, which has a mean molecular mass of 394 kDa with lyxose as the most prominent constituent. In the evaluation of the DPPH* radical scavenging capability, fraction AC-1 and AC-2 polysaccharides showed the better capabilities, around 74.5 and 50.5%, respectively, compared to the reference control of Trolox (87.5%) at a concentration of 1 microM. In testing with macrophage RAW264.7 cells, fraction AC-2 demonstrated a rather potent anti-inflammatory capability. Furthermore, the lipopolysaccharide-induced NO production and the protein expression by the inducible nitric oxide synthase (iNOS) gene were inhibited, respectively, in a dose-dependent (50-200 microg/mL) manner by fraction AC-2 polysaccharide.