Ganoderma lucidum was characterized in terms of nutritional value and chemical composition. Thereafter, ethanolic Soxhlet extracts were evaluated for antioxidant, anti-inflammatory, antityrosinase, antimicrobial and cytotoxic effects, and further characterized in terms of phenolic acids, polysaccharides and triterpenoids. Finally, the obtained extracts were tested as cosmeceutical ingredients. G. lucidum proved to be a source of macronutrients and important bioactive compounds such as terpenoids, specially triterpenoids, and polysaccharides. In the extracts, ganoderic acids C2, A and H were the most abundant triterpenic acids and protocatechuic, p-hydroxibenzoic and syringic acids the identified phenolics. The developed cosmeceutical formulation preserved the extract bioactivities, presented a light-yellow colour and a pH of 4.6, which is considered appropriate for cosmeceutical's design. Behind the important nutritional/bioactive composition of G. lucidum, a potential towards its valorisation in the field of cosmeceuticals is foreseeable, as deduced from the bioactivities of its ethanolic extract and preservation in the tested formulation. •Ganoderma lucidum (Curtis) P. Karst. extracts are sources of biomolecules.•Ganoderic acid H was the most abundant compound.•Biological activities important in the development of cosmeceuticals were displayed.•Its nutritional components could also provide extra benefits to the body and skin.