Antiviral water-soluble lignin complex (WSLC) was purified from the bagasse culture medium of Lentinus edodes (Berk.) Sing. The chemical structure of the modified aromatic ring by L. edodes. in WSLC was characterized by analyses of the products obtained by the treatment of WSLC with 1 N NaOH for 24 h at room temperature. Seven carboxylic acids liberated were identified as p-hydroxybenzoic, vanillic, syringic, p-coumaric, acetic, formic, and oxalic acids. Formic and oxalic acids were found from only WSLC, and five other acids were obtained from both bagasse milled wood lignin (MWL) and WSLC, indicating that formate and oxalate esters occurred in only WSLC. The result suggested that these esters were formed as the result of the aromatic ring opening reaction during the white-rot decay process by L. edodes