In Colombia, despite the great diversity of mushrooms, most are yet unknown from the taxonomic point of view, and even less known from their nutritional composition or their possible application to obtain value-added products from agro-waste. The mycelial growth of Lentinus crinitus (L.) Fr strain was investigated on agro-waste in culture media agar and correlation analyses were performed. The proximate and mineral element composition was determinate in wild mushrooms and spent substrate of L. crinitus, obtained in the solid-state fermentation. The evaluation of the mycelial growth of the L. crinitus strain confirmed that it can grow on agro-waste. The treatment T6 (Orange peel and brand) was determined to be the best for the mycelial growth of L. crinitus (0.0790 cm/h), T7 (Bran, Orange peel and rice husk) and T5 (Rice hush and orange peel) followed, with mycelial growth rates of 0.0753 cm/h and .0720 cm/h, respectively. The growth rate was positively correlated with C/N ratios but negatively correlated with Zn, N and protein. The combination of the agro-waste (T6, T7 and T5) were used to obtain the spent substrate and assess its nutritional potential. The results showed that wild mushrooms of L. crinitus had protein contents of 14.42%, and fiber of 57.18%. The spent substrate of L. crinitus increased their protein content (10.5–11.22%), fiber (44.1–56%) and nitrogen (1.64–1.28%). These advances are promising for the use of L. crinitus as degrader of agro-waste to obtain different products of food and agro-industrial interest.