Corticioid fungi are one of the major groups of wood-inhabiting fungi, and they are mainly confined to the orders Corticiales, Trechisporales and Atheliales among Basidiomycetes. Hydnoid fungi are aphyllophoroid fungi with spine- or tooth-like hymenophore, and most species of them are in the orders of Russulales and Thelephorales. Many hydnoid fungi are wood-inhabiting, but some of them are mycorrhizas. Corticioid fungi and many hydnoid fungi have a similar ecology in forest ecosystems. The current knowledge of corticioid and hydnoid fungi in China is summarized, and totally 506 species are listed alphabetically. A new species, Stereum lithocarpi, is described and illustrated. Two species, Dichostereum boreale and Thanatephorus fusisporus, are new to Chinese fungal flora, and a condensed description of these species is given.