The Philippines is known as one of the megadiverse countries in the world. One of its important biological resources are macrofungi which play an active role in wood decomposition, thereby contributing to nutrient recycling in the forest ecosystem. However, in spite of the important ecological role of macrofungi, little is known about their biodiversity in the Philippines. Investigations on the taxonomy and diversity of macrofungi are also gaining importance, as many macrofungi species are on the brink of extinction due to environmental destruction. Therefore, this study was conducted to document the different species of macrofungi in Ifugao Province, Philippines to come up with a species list of macrofungi in areas inhabited by the Ifugao indigenous community. Purposive sampling method was done to scan the nine barangay study sites: Bangaan, Poitan and Viewpoint in the municipality of Banaue, Bokiawan, Hapao and Poblacion in the municipality of Hungduan, and Chaya, Chumang and Mapawoy in the municipality of Mayoyao. Collected macrofungal samples were identified using both morphological and molecular methods. A total of 144 macrofungal samples were collected; out of these, 109 species were identified: 74 morphologically and 35 molecularly. Of these samples, 71 macrofungi were identified up to the species level while 34 could only be identified up to the genus level. The identified macrofungi belonged to 30 families, 47 genera and 47 species. Sixteen identified species of macrofungi were utilized as food as declared by the community and these are Agaricus sp., Auricularia auricula, Coprinellus disseminatus, Coprinus comatus, Lentinus sajor-caju, Lenzites elegans, Mycena sp., Oudemansiella canarii, Phellinus sp., Pleurotus djamor, Pleurotus ostreatus, Pleurotus sp., Schizophyllum commune, Trametes elegans, Termitomyces sp. and Vascellum pratense. This study is the first report on macrofungal diversity in the area inhabited by the Ifugao community in Ifugao Province.