White rot fungi (Pleurotus species) are edible mushrooms known for their ability to bioaccumulate contaminants including metals from the environment. There is scarcity of information on the toxic effects of the bioaccumulated metals on organisms at higher trophic levels. In this study, we investigated alterations in haematological indices and erythrocyte morphology and lead bioaccumulation potentials in liver and kidney of Wistar rats fed aqueous extract of Pleurotus pulmonarius cultivated on lead (0, 10, 100, 200, 500 and 1000 mg/L) contaminated rice straw substrate. After 8 weeks of cultivation, mushroom did not germinate in the 1000 mg/L Pb contaminated rice straw. 1 g of mushroom harvested from each of the remaining concentrations showed significant (p<0.001) increase in Pb concentration. Rats exposed to 0.5 mL of the contaminated mushroom extracts for 30 days, showed decreased leucocyte, erythrocyte, haematocrit, platelet and haemoglobin concentrations. Abnormal erythrocyte morphologies like acanthocytes, schizocytes and tear drop were significantly higher in the Pb treated mushroom fed rats than the control. The kidney and liver of treated rats showed significant (p<0.05) increase in Pb concentration with higher Pb bioaccumulation factor in the kidney than the liver. Also insignificant decrease in body and organ weight was observed in treated rats than the control. Pb accumulation in P. pulmonarius increased liver and kidney Pb bioaccumulation and induce alterations in haematological indices and erythrocyte morphology in rats. This poses public health threat to humans and other tertiary consumers foraging white rot fungi from metal contaminated sites.