The present invention relates to an extracellular polysaccharide produced by Ceriporia lacerata, a culture medium of Ceriporia lacerata hyphae including the extracellular polysaccharide, a composition for immunoregulation containing, as an active ingredient, dried powder of the hyphae culture medium or an extract of the hyphae culture medium, a pharmaceutical composition for preventing or treating an immune disease, and a health food for immunoregulation. The composition of the present invention has an excellent effect on immune enhancement and overactive immune response inhibition.
