The aim of the present study was to investigate the antioxidant and hepatoprotective effects of water-soluble polysaccharides (RVLWP) and alkali-soluble polysaccharides (RVLAP) from Russula vinosa on carbon tetrachloride (CCl4)-induced acute liver damage in mice. For the in vitro antioxidant activities, RVLWP and RVLAP exhibited potent 1,1-diphenyl-2-picrylhydrazyl (DPPH) radical scavenging activity (IC50 = 1.55 ± 0.04 and 3.37 ± 0.21 mg/mL, respectively), hydrogen peroxide scavenging activity (IC50 = 6.07 ± 0.24 and 9.23 ± 0.54 mg/mL, respectively), lipid peroxidation inhibitory effect (IC50 = 0.52 ± 0.095 and 0.86 ± 0.043 mg/mL, respectively), and moderate reducing power and Fe(2+) chelating activity (IC50 = 1.86 ± 0.0036 and 0.22 ± 0.0057 mg/mL, respectively). Ascorbic acid was employed as the standard antioxidant in the present study. For the in vivo hepatoprotective activity, administration of RVLWP and RVLAP (200 mg/kg) significantly prevented the elevation in serum alanine aminotransferase (ALT) and aspartate aminotransferase (AST) activities in acute liver damage induced by CCl4 and suppressed hepatic malondialdehyde (MDA) formation. Mice treated with RVLWP and RVLAP demonstrated a better profile of antioxidants with augmented activities of superoxide dismutase (SOD) and glutathione peroxidase (GSH-Px) in the liver. The results suggest that RVLWP and RVLAP protect the liver from CCl4-induced hepatic damage via antioxidant mechanisms.