The present investigations were undertaken to evaluate the antioxidative potential of Porodaedalea pini (Brot.) Murrill. Different solvent extracts were prepared using powdered basidiocarps to determine the total phenolic content in terms of tannic acid equivalents (TAE), hydroxyl, superoxide, and 2,2-diphenyl-1-picrylhydrazyl (DPPH) radical scavenging activity. Maximum TAE (12.42 mg/g) were found in hot water (HW) extract, which was obtained for 1 h as compared to ethanol (0.456 mg/g) and methanol (0.227 mg/g) extracts. This was further supported by high hydroxyl radical scavenging activity (90.0%), superoxide radical scavenging activity (88.9%), and DPPH radical scavenging activity (74.92%) in the the HW extract obtained for 1 h. Mass spectra analysis of HW extract revealed the presence of 14 polyphenolic compounds responsible for imparting antioxidative character. Among these hispidulin is one of the major polyphenolic compounds present in the poroid mushroom under investigation; this was further validated by high-performance liquid chromatography analysis.