Phanerochaete chrysosporium is an ubiquitous fungus having huge potential for application in biodegradation processes. Its enzymatic system, consisting of ligninases, membrane-associated oxidases and hydrogen peroxide generating enzymes is capable of degrading a wide range of pollutants like 2,4,6-trinitrotoluene, 2,5-dinitrophenol, 3,5-dinitrosalicylic acid or azodyes produced by military or civilian industry. Synergetic action between enzymes, based on providing substrates essential for their activity and their extreme low-specificity guarantees successful degradation of recalcitrant pollutants. Nevertheless, a development of a technique, taking into the account the type of pollutant, its concentration in the environment, its metabolic pathway and maintenance of the system is required. This paper presents a literature survey related to enzymatic system of a white rot fungus Phanerochaete chrysosporium and its potential application in biodegradation processes.