The fruit body samples of Sanghuang were collected for experiments, the factors including different strains (three broad-sense Sanghuang species: Sanghuangporus vaninii, Inonotus hispidus, and Inonotus linteus; wild domesticated or main cultivated cultures), different cultivation modes (bagged substrate or log segments), and different growth years (one year or three years). The relevant efficacy indexes of the samples were determined, and the six strains were evaluated using the membership function method. The results showed that in western Liaoning Province, the fruit body efficacy evaluation of S. vaninii strain SH-2 intensively cultivated with wood chip-wheat bran substrate under summer greenhouse was the best. The contents of active components such as flavonoids (34.306 mg·g^-1), polysaccharides (137.257 mg·g^-1), polyphenols (21.478 mg·g^-1), chlorogenic acid(6.457 mg·g^-1), and dihydroquercetin(5.059 mg·g^-1)were high, and the antioxidant activity (DPPH·scavenging rate of 91%), hypoglycemic activity (α-glucosidase inhibition rate of 57. 231%), and hypolipidemic activity(cholesterol binding capacity of 45. 953 mg·g^-1 at pH 2. 0)were strong. Furthermore, contrary to common research findings and perceptions, the comprehensive efficacy evaluation of one-year-old S. vaninii fruit bodies was better than that of three-year-old fruit bodies, indicating that superior Sanghuang is the result of the synergistic effect of multiple factors. The efficacy evaluation and correlation analysis provide theoretical references for the selection and high-value utilization of Sanghuang suitable for cultivation in western Liaoning Province.