Abstract: In order to explore the effect of water-soluble organic fertilizer on the growth and development of Agaricus bisporus, the experiment was carried out by using ‘Penshibao’ water-soluble organic fertilizer. The results showed that compared to the treatment Ⅱ of applying clear water, the treatmentⅠof applying ‘Penshibao’ could increase the single mushroom weight, the diameter of the cap, the thickness of the cap, the length and diameter of the stipe by 0.2 g, 0.3 mm, 0.2 mm, 0.2 mm and 0.2 mm, respectively. The yield in treatment I of applying ‘Penshibao’ was the highest and increase by 16.8% reaching very significant levels, also make the income increase by 23 845.5 Yuan·hm^-2 with the output value 169 200 Yuan·hm^-2 to compare with treatment Ⅱ. The application of ‘Penshibao’ organic fertilizer in Agaricus bisporus could increase both production and income, and it was recommended to be applied in production.