The possibility of utilization of the waste after CO₂-extraction of Amarantus caudatus L. grains (amaranth flour) as a medium for Schizophyllum commune and Cordyceps sinensis biomass production was explored. Our results showed high biological efficiency of substrate: 45 % for    Sch. commune and 29 % for C. sinensis. We obtained in the present work 27.0 g/L and 17.4 g/L of mycelium of Sch. commune and C. sinensis accordingly after 14 days of solid state cultivation on amaranth flour. Elemental analysis of amaranth flour was studied. Basic components (moisture, protein, fat, ash, carbohydrates) of fungi mycelium were determined. The fungal biomass of       Sch. commune and C. sinensis can be consumed in food industry as good source of main components: carbohydrates, dietary fiber, nonessential amino acids and unsaturated fatty acids.