"Mushroom of Immortality" may not be a literally accurate nickname since nobody has ever been known to live forever. But Ganoderma extract has for a fact been revered and utilized for its healing and life-extending properties since before the birth of Christ.
In Tibet, it goes by the name Ling Chi, and many Buddhist temples and shrines are adorned with artistic renderings of this beautiful fungus. Tibetans have a long tradition of using Ganoderma extract for infections as well as high-altitude sickness. 
Something you'd probably never hear an ancient healer refer to is that Ganoderma extract is exceptionally high in anti-oxidants. And perhaps the resulting protection from free radical damage may have something to do with its acclaimed anti-aging effect. [34, 35, 36, 37, 38, 39, 40, 41]
Another possible contributing factor to the acclaimed anti-aging properties of Ganoderma may be its anti-inflammatory compounds known as triterpenoids. [42, 43, 44, 45] (Alcohol extracted.) After all, inflammation is involved in many of our most common ailments, from bronchitis, asthma and atherosclerosis , to allergies, arthritis [47, 48, 49, 50, 51] and the common cold. The triterpenoids of Ganoderma extract have even tested positive with inflammatory conditions of the prostate  and brain. 
Allergies and inflammations are the results of an exaggerated immune response. So it has surprised researchers to discover that while Ganoderma extract calms the out-of-control immune response in cases of inflammation, it actually improves a healthy immune response. [48, 54, 55] It's even demonstrated some inhibitory effect on the replication of HIV in mother and daughter lymphocytes. 
Another rejuvenating (anti-aging) effect of Ganoderma extract relates to its effect on the alveoli of the lungs and increased oxygen absorption,  as well as increased coronary flow and decreased blood pressure,  both of which contribute to an energizing and vitalizing effect. For this reason, two studies have shown promise in the use of Ganoderma with chronic fatigue. [59, 60]
Ganoderma extract appears ripe with tumor preventing compounds. Several Oriental studies have shown it to have an inhibiting effect on the growth of tumor cells of the lungs, cervix, prostate, liver, and on sarcomas and leukemia. [61, 62, 63, 64, 65] Other research points to this effect possibly being secondary to stimulating the body's own cancer fighting mechanisms by increasing the activity of T-lymphocytes, and interleukin-1 and 6. [66, 67]
A couple of Chinese research articles have reported positive results from the use of Ganoderma extract on supporting the liver in cases of chronic hepatitis  as well as post-hepatic cirrhosis .
Another study indicated that it helps restore certain spleen functions.  And powdered Ganoderma has been used for a number of skin disorders , including poison ivy rash .
In the book Mycelium Running, Paul Stamets lists the following additional areas where Ganoderma extract has demonstrated a beneficial therapeutic effect: Blood Sugar; Candida; Cholesterol; Kidneys; Lungs; Nerves. 
Note: The statements on this page have not been evaluated by the Food and Drug Administration. This article is not intended to diagnose, treat, cure or prevent any disease. Never use any herb (or mushroom) except as advised by a licensed medical practitioner.
Credit to Paul Stamets for research and source material.