Ten previously undescribed sesquiterpenes (1-10), along with twenty-two known compounds (11-32), were isolated from fermented cultures of Sanghuangporus baumii. Their structures were established by extensive analysis of HRESIMS, 1D NMR, and 2D NMR spectra. The antioxidant results demonstrated that compound 24 exhibited significant antioxidant activity. The antibacterial results revealed that compound 18 displayed a slight inhibitory effect on Staphylococcus aureus. In this study, the isolated compounds were preliminarily evaluated through antioxidant and antibacterial activity assays, which laid the material foundation for the development and utilization of S.baumii resources.