Abstract: Cordyceps militaris SU5-08 was derived from an initial strain (C. militaris SU5) by ultraviolet mutagenesis of protoplasts, and the extraction parameters for C. militaris SU5-08 exopolysaccharide (EPS) produced during submerged culture were optimized. The extraction rate of EPS was 1919.16±165.27mg/l, which was 120.38±11.36% higher than that of C. militaris SU5. The in vitro scavenging effects of EPS of C. militaris SU5-08 on hydroxyl, superoxide anion and 1,1-diphenyl-2-picrylhydrazyl (DPPH) radicals at a dosage of 5g/l were 63.64±3.52%, 75.27±5.16%, and 6.46±5.03%, respectively. The reducing power of EPS of C. militaris SU5-08 was 0.21±0.01. The results suggest that the EPS of C. militaris SU5-08 can be used as a potential antioxidant which enhances adaptive immune responses. [Copyright &y& Elsevier]