The present study aimed to determine antioxidant/oxidant potential and heavy metal content of Lepiota cristata (Bolton) P. kumm. Total antioxidant status (TAS), total oxidant status (TOS) and oxidative stress index (OSI) of the mushroom were determined using Rel Assay kits. Fe, Zn, Cu, Pb and Ni content were measured by a wet decomposition method using a Perkin Elmer AAnalyst 400 AA spectrometer. The study findings demonstrated that TAS value of L. cristata was 2.210±0.068, TOS value was 24.357±0.129 and OSI was 1.103±0.030. It was also determined that Fe content was 381.07±4.847, Zn content was 73.93±2.078, Cu content was 14.16±0.876, Pb content was 8.517±0.623, and Ni content was 3.09±0.30. Thus, it was determined that the mushroom had antioxidant potential. However, due to the high oxidant content, it was considered that the mushroom could only be used as an antioxidant source by collecting samples that grow in adequate regions where the mushroom exhibits low oxidative stress index after determination of the compounds with antioxidant effect in these samples. Furthermore, it was determined that L. cristata Fe, Zn and Ni content were within the ranges reported previously in the literature, however Cu content was lower and Pb content was higher when compared to the ranges reported in the literature.