Macrofungi (mushrooms) have been studied for their nutritional value and medicinal properties. However, progress in the biotechnological application of macrofungi in the cosmetic industry as cosmeceuticals and nutricosmetics remains slow. Currently, the cosmetic industry is in a constant search for valuable natural ingredients or extracts with relevant bioactive properties (e.g., antiaging, anticollagenase, antielastase, antihyaluronidase, antipigmentation, anti-inflammatory, antioxidant, and antityrosinase) to design formulations. Edible medicinal mushrooms are an unlimited source of nutraceuticals and pharmaceuticals. They can be used as a source of ingredients to develop organic cosmeceuticals, nutriceuticals, and nutracosmetics for topical and oral administration.