The extraction process of crude polysaccharides from Agrocybe aegerita was optimized, and the antioxidant and anti-aging effects of the crude polysaccharides were evaluated. The optimal extraction parameters for the polysaccharide were identified using the response surface methodology. The DPPH, hydroxy radical, and superoxide anion radical scavenging capacities were evaluated to determine the antioxidant properties of the AAPs. The effects of the AAPs on the lifespan, head-swing frequency, swallowing frequency, body-bending frequency, and stress resistance of Caenorhabditis elegans were determined. The optimal extraction conditions included a solid-to-liquid ratio that resulted in an extraction solution concentration of 0.034 g/mL, an extraction temperature of 92.64 °C, and an extraction time of 2.82 h. Under these conditions, the yield of the AAPs was 11.325% ± 0.996%. The IC50 of the AAPs for superoxide anion radical scavenging was 4.693 mg/mL. The AAPs reached their maximum activity at concentrations of about 2 mg/mL for DPPH and 5 mg/mL for the hydroxyl radical. The AAPs could prolong the lifespan and improve locomotion and the stress resistance of C. elegans. Our findings illustrate the potential of AAPs as an anti-aging and antioxidant agent, highlighting the use of this natural compound in the fields of food and pharmacology.