The white rot fungus Ganoderma lucidum (Reishi) has been the object of intense research for two reasons. Firstly, several medicinal and pharmacological activities have been attributed to its molecular constituents. Secondly, this fungus is able to produce a series of different hydrolytic and oxidative enzymes possibly useful in technological processes. Several reviews in which the medicinal properties of G. lucidum are analyzed can be found in the literature. Reviews on enzyme production, however, are relatively scarce. For this reason the present review concentrates on the main ways of culturing G. lucidum for purposes of enzyme production. Attention is devoted not only to the lignin degrading enzymes, which have since long received considerable attention, but also to a series of hydrolytic enzymes such as amylases, pectinases, xylanases and proteases. This article also analyzes the potential applications of G. lucidum in different industrial and environmental fields.