One hundred three Basidiomycota fungi representing 84 species and 17 families were collected from different Atlantic Rainforest in Brazil. Their basidiomes and fermentation broth extracts were screened in a bioassay panel that included three human cancer cells lines, human peripheral blood mononuclear cells (PBMCs), the enzyme trypanothione reductase (TryR) from Trypanosoma cruzi, and amastigote forms of Leishmania amazonensis. Forty-two extracts representing 21 genera and 35 species presented activities higher than 60% in one or more assays employed in this study. Eighteen extracts were toxic to one or more human cancer cell lines. Extracts from Lentinus strigosus CCB 178 and Lentinus sp. UFMGCB 38 showed selectivity towards cancer cells as they showed only a minor impact on PBMCs. Six extracts suppressed PBMCs proliferation and showed low toxic effect to cancer cells. Thirty-four extracts inhibited the activity of the TryR. Of these, five showed low toxicity towards PBMCs. Extracts from Gymnopilus areolatus, Irpex lacteus, L. strigosus, Nothopanus hygrophanus, Pleurotus flabellatus, and unidentified Basidiomycetes were toxic to L. amazonensis. The results of this screening reinforce the potential of Basidiomycota fungi as sources of bioactive natural products that may be developed into new therapeutic agents for cancer and neglected diseases such as trypanosomiasis and leishmaniasis.