The systematic study of aphyllophoroid, including hymenochaetoid, fungi in Armenia revealed around 200 species, forms, and varieties among which around 40 species possess medicinal properties. The modern taxonomic analysis and nomenclature verification of mycobiota of macromycetes are required for assessment of the resource value of Armenian medicinal mushrooms. According to Index Fungorum the hymenochaetoid fungi (order Hymenochaetales) is currently represented by 27 species, 14 genera, and 3 families. Among them, Phellinus tremulae has originally been reported for Armenian mycobiota; 12 species possess pharmacological properties. The current review addresses the biodiversity, resource value, bioactive and pharmacological properties, as well as perspectives for further biotechnological exploitation of hymenochaetoid fungi in Armenia.