The mycelium composites composed of fungal mycelium and plant substrate are a practical alternative to petroleum plastic-based foam materials. However, the effects of the physiological traits of fungus on the composites’ microscopic structure and mechanical properties remain poorly understood. Here, we compared two basidiomycetes with distinct mycelium morphology and white-decay modes. Cross-sectional observation revealed that the mycelium composites possess a core/shell structure with the shell formed of dense aerial mycelium and the core of plant particles and spongy aerial mycelium. Dense and continuous mycelium networks provided by Trametes hirsuta strengthen the mechanical properties of the composite compared to the coarse mycelium networks of Pleurotus ostreatus. In particular, the firm mycelial shell skeleton confers high flexibility and shape-retention to the composite in the wet state. This unique characteristic of the mycelium composite indicates its potentials in new industrial applications.