Abstract: The pure mycedia of Morchella esculenta（L.）Pers. were purified from the wild strains. Polysaccharide extract was obtained from the mycedia fermented in tobacco matrix by solid-state fermentation at 22℃ for 9 days. The content of polysaccharide, the volatiles, the products of pyrolysis and the effects on smoking quality were studied. The results showed that the content of polysaccharide was 42.6%, the main volatiles were long-chain acids and their esters, and none of PAHs was yielded in the pyrolysis process. The flavoring test showed that this polysaccharide extract could effectively improve the smoking quality.