Sesquiterpenoids and diterpenoids discovered from Ganoderma species possess diverse chemical structures and biological activities. Among them, many highly active substances are widely used in food flavors, cosmetics, and pharmaceuticals, and have attracted increasing attention in recent years. In this study, we will summarize the structures of Ganoderma sesquiterpenoids (GSs) and Ganoderma diterpenoids (GDs), and their classifications, biosynthetic pathways, chemical synthesis, and biological activities before August 2024.