Abstract: In order to develop new culture substrate of edible fungi, Pennisetum spp. was introduced as substrate and 10 culture formulations of Pleurotus pulmonarius were screened to compare and analyze mycelium growth, biological efficiency and economic benefits. The results showed that Formulation No.3, containing 25% of cotton seed hulls, 50% of aged sawdust, 15% of bran and 10% of Pennisetum spp., and Formulation No.4, containing 25% cotton seed hulls, 45% of aged sawdust, 15% of bran and 15% of Pennisetum spp. could gain highest yield per bag, showing 435.33 g per bag and 434.67 g per bag, respectively. There was no significant difference between the above two formulations and the control formulation, containing 20% cotton seed hulls, 65% of aged sawdust and 15% of bran. Full growing time of mycelium in Formulation No.3 and No.4 was shorter than that for the control by 8d and 14d, respectively. So, it could be technical reserve for available resources that 10%-15% of Pennisetum spp. was used as culture substrates to substitute sawdust.