High demand by consumers for poultry meat and products devoid of residue of antibiotics and micro-organisms has been the drive for recent research into the Nigerian poultry industry. This study was carried out to investigate the potential effect of Pleurotus ostreatus (oyster mushroom) on carcass, blood and meat cholesterol of broiler chickens. A total of 90 two-week old broiler chickens were randomly allotted to three levels of administration of ethanolic extract of Pleurotus ostreatus: control (0 ppm), 7.5 ppm and 15 ppm. Data obtained on carcass characteristics, serum metabolites and meat lipid profiles were subjected to a completely randomised design. Most carcass indices considered were not influenced (p>0.05) except those for the legs and breast. Breast meat (%) was highest in 15 ppm group. Meat lipoprotein content was significantly (p<0.05) affected by oyster mushroom administration except for triglycerides and very low density lipoprotein (LDL). High density lipoprotein (HDL) was highest in the 15-ppm dosed group, while LDL was lowest in meat obtained from the 15-ppm dosed group. In conclusion, the use of oral administration of Pleurotus ostreatus at 15 ppm in water can increase HDL and decrease the concentrations of LDL, VLDL and triglycerides in thigh meat.