Ganoderma neo-japonicum, known as purple Lingzhi, is a mushroom traditionally used by indigenous communities in Malaysia and other Asian countries to treat various health conditions. This review examines 36 scientific studies published between 1991 and 2021, showing that the mushroom contains special compounds that can fight cancer cells, lower blood sugar, reduce inflammation, and boost immunity. While laboratory studies show promising results, the mushroom still needs more clinical testing in humans before it can be widely used as a medicine.