As one of the edible mushrooms currently promoted in China, shimeji is quite nutritious, and regular use can bring anti-inflammatory, anticancer, lowering blood pressure and other medical effects, which is well received by consumers at home and abroad. This study made full use of industrial spent bleaching clay (SBC) to replace cottonseed hull, wheat bran and other costly traditional cultural materials for shimeji production. Generating economic benefit can not only promote the development of edible mushroom industry, but also solve the problem of environmental pollution by wastes. This paper set six additives with respectively 0% - 40% SBC substrate formula, took shimeji production experiment, and analyzed and compared the substrate formula suitable for both mycelial growth and its application effect. The experimental results showed that among all the substrate with different proportions of SBC, all treated mycelium were in a good growth state, and formulae with SBC had no incidence of contamination to shimeji mycelium. After comparative screening tests, it can be found that the carbon-nitrogen proportion of Formula-5 formula added with 40% SBC is the most suitable for shimeji growth, which can obviously increase its growth rate, shorten the breeding cycle, reduce the production costs and improve the economic benefits.