Ganoderma tsugae Murr. is widely used as a traditional Chinese medicine for nourishing, countering cold, activating blood circulation, and treating rheumatoid arthritis. G. tsugae contains diverse active compounds like triterpenoids, polysaccharides, sterols, etc., with triterpenoids as the major component. In this study, the UPLC-Q-TOF-MS/MS method was established for identifying chemical compounds in the fruiting bodies of G. tsugae based on the precise molecular mass and fragment ion information of the compounds collected in the positive and negative ion electrospray modes. By comparing the literatures and literature data, 93 chemical components were identified from G. tsugae, including 47 triterpenoids, 18 organic acids, 6 sterols, 6 amino acids and others. In short, the chemical components in G. tsugae are firstly systematically characterised, and the characteristic fragmentation pathways of the main compounds are established, which will lay a basis for the subsequent research on its medicinal substances, development, and application.