Free radical scavenging activity of Ramaria aurea, an edible mushroom, naturally grown in Shilong, India, was evaluated. A heat-stable, polyphenol-rich extract (RauPre) was prepared from the dried basidiocarps and analyzed. The major chemical constituent of RauPre was phenols (26.86 g gallic acid equivalents [GAE] mg-1 of dry extract); flavonoids, β-carotene, lycopene, and ascorbic acid were present in minor amounts. Main phenolic acids identified by high performance liquid chromatography (HPLC) were caffeic acid > cinnamic acid > gallic acid. Results from antioxidant assays demonstrated potential for superoxide and DPPH (2,2-diphenyl-1-picrylhydrazyl) radical scavenging activity (EC50 0.283 mg mL-1 and 0.384 mg mL-1, respectively). RauPre chelated ferrous ion (EC50 0.95 mg mL-1) and had Fe3+ to Fe2+ reducing power (EC50 1.025 mg mL-1). The activity of 1 mg of RauPre was equivalent to 86.7 g ascorbic acid for total antioxidant capacity. © 2015 Taylor and Francis Group, LLC.