Medicinal Ganoderma mushrooms have long tradition in Asia, and recently they began to be consumed in Europe as well. Among hundreds of Ganoderma species, only a few of them are intensively investigated, i.e., G. lucidum and G. applanatum, whereas the chemistry and bioactivities of the other species, especially of European origin, still remain unknown. This study comprises detailed chemical analysis of two Ganoderma species growing wild in Turkey, G. pfeifferi and G. carnosum. Metal composition of both species shows high concentrations of biogenic metals. Phenolic composition of the isolated extracts of G. carnosum and G. pfeifferi shows that these species are rich in simple phenolic acids, such as 2,5-dihydroxybenzoic acid and vanillic acid, but also in flavonoids. These compounds are found to be carriers of the antioxidant activity but also enzyme inhibition activity of the analyzed extracts. Overall results indicate that these two Ganoderma species have strong potential to be used for medicinal purposes.