Reports are available on Ag(I) and Zn (II) binding capacity of some microorganisms and other adsorbents. However, reports are scanty on biosorption of silver and zinc by macrofungi. The present study was conducted using dried biomass of macrofungi viz. oyster mushroom (Pleurotus platypus), milky mushroom (Calocybe indica) and paddy straw mushroom (Volvariella volvacea) for the removal of Ag(I) and Zn(II) ions from aqueous medium. The influence of various factors viz. pH, biomass dosage , initial metal concentration, contact time and temperature on removal of Ag(I) and Zn(II) ions were investigated under batch mode. Under optimized condition, maximum removal of Ag(I) was Zn(II) was noted by Pleurotus platypus followed by Calocybe indica and Volvariella volvacea. Among the three macrofungi, maximum uptake of Ag(I) and Zn( II) were noted onto P.platypus which were found to be 46.7 mg/g and 135.1 mg/g respectively under optimized conditions. Therefore, P.platypus may serve as a potential biosorbent for the removal of Ag(I) and Zn(II) ions from industrial waste water.