The aim of this work is to evaluate the potential of asparagus (Asparagus officinalis L.) straw as a raw material for cultivating Pleurotus abalonus and Pleurotus geesteranus. The effects of asparagus straw substrate on yield, polysaccharides content and antioxidant properties of these two mushrooms were studied. On non-supplemented asparagus straw substrate, the yield of P. geesteranus (199 g/bag) was significantly higher than that of P. abalones (140 g/bag) while the polysaccharides content of P. abalones was significantly higher than that of P. geesteranus. Addition of appropriate amounts of glucose, MgSO4 and K2HPO4 to the substrate increased the mushroom yield of P. geesteranus significantly. Addition of saccharides and inorganic salts to the substrate had no remarkable effect on the polysaccharides content of P. geesteranus fruit bodies, whereas caused the significant decrease of the polysaccharides content of P. abalones fruit bodies compared with the control. According to the scavenging effect on 1,1-diphenyl-2-picrylhydrazyl radicals and reducing power of ethanolic extracts from two mushrooms, it was shown that the antioxidant properties of P. abalones was superior to that of P. geesteranus on non-supplemented asparagus straw substrate, and the supplementation of sucrose + MgSO4 to the substrate was favorable to the enhancement of antioxidant activity of two mushrooms.