The aims of this work were designed to investigate the hepatoprotective and antioxidant effects of acidic- and alkali-extractable mycelia zinc polysaccharides (AcMZPS, AlMZPS) from Pleurotus eryngii var.tuoliensis on high-fat-high-cholesterol emulsion-induced hyperlipidemic mice. The in vivo experiments demonstrated that both AcMZPS and AlMZPS had potential hepatoprotective effects by significantly decreasing the levels of LDL-C, VLDL-C, TC, TG, ALT, AST, ALP, MDA and LPO, and remarkably increasing the HDL-C, SOD, GSH-Px, and CAT in serum lipid/liver homogenate, respectively. In addition, four polysaccharide fractions of AcMZPS-1, AcMZPS-2, AlMZPS-1, and AlMZPS-2, purified from AcMZPS andAlMZPS using DEAE chromatography, respectively, were subjected to monosaccharide composition analysis and valuated for the in vitro antioxidant activity. The results obtained in present study suggested that AcMZPS, AlMZPS and their purified fractions could be used as functional foods and natural drugs in preventing the hyperlipidemia and non-alcoholic fatty liver.