The invention discloses collybia radicata planted through mulberry twigs and a cultivation method for interplanting the collybia radicata and mulberry trees. A cultivation material is prepared from mulberry sawdust, cottonseed hulls, rice straw clippings, corncob or sugarcane bagasse, mulberry twig segments, bran or rice bran, corn flour, gypsum powder, lime powder, white sugar, calcium superphosphate and the like. Whether indoor cultivation or facility greenhouse or shadehouse soil covering cultivation or interplanting cultivation is used is determined by a cultivator according to the owned facility condition. In a mulberry tree growing season, fungus bags are inoculated, hyphae are cultured, and the interplanting method can be performed among mulberry planting lines through soil covering. According to the method, the mulberry twig collybia radicata is interplanted and cultivated in a mulberry field, the cultivated land resource is not occupied, special facilities are not needed, the production cost can be saved, the economic benefit is increased, generated collybia radicata residues can be directly returned into a field, and mulberry tree growth and land capacity fertilization are promoted.