This study investigated the potential of exosomes derived from five edible mushrooms (M-ELNs) as a novel natural additive for improving the quality and safety of chicken sausages. In vitro analysis revealed that M-ELNs, particularly those from Flammulina velutipes (FV-ELNs), possessed strong antioxidant activities, correlated with their high phenolic content. When incorporated into sausages, M-ELNs significantly suppressed lipid and protein oxidation during 21-day refrigerated storage, thereby reducing drip loss and mitigating texture deterioration. Crucially, all M-ELNs potently inhibited the formation of advanced glycation end products (AGEs) after thermal processing. Mechanistic studies demonstrated that M-ELNs functioned through a dual pathway: scavenging free radicals, thereby suppressing the formation of reactive dicarbonyl compounds, the key precursors of AGEs. Furthermore, M-ELNs accelerated the depletion of residual nitrite. These findings highlight mushroom exosomes, especially FV-ELNs, as a potent multi-functional ingredient for developing healthier and higher-quality meat products by concurrently controlling oxidation and hazardous compound formation.