Disclosed herein is a method of preparing dried extract powder from inonotus-obliquus.The method comprises: extracting inonotus obliquus with alcohol to form analcohol-based chaga extract and alcohol-extracted inonotus obliquusextracting thealcohol-extracted inonotus obliquus with hot water to form a hot water-basedchagaextract combining the alcohol-based chaga extract and the hot water-basedchagaextract to form a combined chaga extract and drying the combined chagaextract toform a dried dual-extracted chaga powder. The alcohol-based extract and thehotwater-based extract may be separately concentrated before being mixed togetherand dried. It is optional to separately dry the alcohol-based chaga extractand the hotwater-based chaga extract to produce an alcohol-based chaga extract powder andahot water-based chaga extract powder, and then mix the two powders together toproduce a dry dual-extracted chaga powder.