Dietary fibres and high fibre-containing foods have been a huge attraction among researchers and nutraceutical industries due to their health-promoting benefits. From Greek and Roman times, edible mushrooms are considered the "elixir of life" and are often stated as a new source of dietary fibre. Containing rich sources of essential amino acids and polysaccharides, mushrooms are viewed as an advantage over protein sources of both animal and plant origin. Additionally, the ability of mushrooms to grow under controlled conditions and attain high yield in a short span has made this added-value food of extreme interest. Nowadays, mushrooms and their by-products have been used to fortify various food products as well as for use in animal feed owing to their bioactive, therapeutic and nutritional value. Hence, this review intends to highlight the current knowledge on edible mushrooms and their waste for food and feed enrichment and nutritional purposes, along with their role in human and animal diet. © 2022 Institute of Food, Science and Technology (IFSTTF).