The invention discloses a seasoning with edible mushroom flavor. The seasoning comprises the following raw materials in percentage by mass: 30-70 percent of edible mushroom curing concentrated liquid, 20-50 percent of edible mushroom green-removing water and boiling water concentrated liquid, 5.0-15.0 percent of spicery boiling liquid, 1.0-12.0 percent of salt, 2.0-5.0 percent of sugars, 0.5-8 percent of essence of chicken; 0.1-1.0 percent of disodium 5'-ribonucleotide, 0.1-1.5 percent of caramel pigments, 0.1-0.3 percent of xanthan gums and 0.1-0.5 percent of haematochrome. The seasoning with the edible mushroom flavor is prepared by carrying out odor removal, ammonium salt drop treatment, vacuum concentration desalting treatment on edible mushroom processing waste water, boiling, mixing the raw material components and sterilizing at the high temperature. The seasoning contains components such as amino acid nitrogen, protein type nitrogen-containing compounds, saccharides, vitamins, mineral substances, organic acid, organic ester, organic alcohol and organic aldehyde, so that the original nutrition flavor of the edible mushroom is maintained, and the product has the characteristics of color, aroma, taste and the like; the production method is simple to operate, is high in desalting ratio, stable in soluble solid contents, wide in sources and considerable in economic value; and moreover, the raw materials is cheap and available. The method turns waste into treasure so as to facilitate environment friendliness.