Aim of study: To review and provide all-purpose information about wild mushrooms in Ethiopia and to create awareness for conservation and use of mycological resources. Area of study: We focused mainly on Ethiopia, where information about wild mushrooms is scanty and their status is unknown under the rampant degradation of the habitats. Main results: We reviewed all relevant references related to wild mushrooms and their ecological niches, cultural practices and species used for cultivation as well as the anthropogenic factors affecting the conservation of fungal diversity. Research highlights: This review summarizes issues related to the diversity of wild mushrooms, the main ecological niches and their associated fungal species, and mushroom cultivation practices in Ethiopia. Moreover, threats and the need for future conservation of wild mushrooms in the country are also reported. This review paper can serve as base line information and indicator for further mycological studies in Ethiopia as well as in other developing countries with similar scenarios.