Mushrooms are well known for their nutritional and gastronomic values. In the present study the nutritional value was analysed by proximate, aminoacid, vitamin and mineral composition of the edible mushroom, Calocybe indica var.APK2 commercially grown in Tamilnadu, India were investigated. The results of the analyses showed that milky mushroom is a good source of protein (27.25±0.33%), carbohydrates (49.06±0.16%) and fibre (14.07±0.34%). These macrofungi are equally rich in vitamins namely Vitamin A (0.62±0.69 mg/g), Vitamin B (1.95±0.82 mg/g), Vitamin E (0.81±0.96 mg/g) and Vitamin C (0.41±0.71 mg/g). One gram of mushroom was found to possess mineral elements like Ca (20.94±0.13mg); P (469.30±0.62mg); Fe (59.16±0.24mg); Zn(10.36±0.37mg); Mn(1.00±0.21mg); Mg(11.20±0.11mg); K(59.34±0.36mg), Na(13.15±0.15mg) and Se(0.001±0.22mg). In addition these mushroom proteins were found to contain ten essential aminoacids. Results of the present study revealed that these mushroom fulfill the criteria of all the dietary supplements and can be suggested as a good source of functional food with significant amount of nutrients.