Water-soluble polysaccharides (WSPs) were isolated from freeze-dried and hot-air–dried fruiting bodies of five wild-growing edible species: Armillaria mellea, Lactarius deliciosus, Leccinum aurantiacum, Suillus luteus, and Boletus badius. The concentrations of WSPs ranged from 36.3 ± 0.7 mg/g dw to 105.9 ± 3.9 mg/g dw. The method of drying substantially affected the quantity of WSP. The loss of WSP depended on species and varied between ~ 19% and ~ 48%. The extracted WSP contained varied amounts of carbohydrate, protein, and phenolics. The samples exerted antioxidant properties measured with the 2,2'-azino-bis(3-ethylbenzothiazoline-6-sulphonic acid (ABTS) assay (11.5 ± 2.0 to 38.4 ± 3.6 μmol Trolox/g dw) and the Ferric reducing antioxidant power (FRAP) assay (9.1 ± 1.3 to 40.6 ± 1.4 μmol Trolox/g dw). In most cases, hot-air drying slightly increased the antioxidant potential of WSP.