Wood-decaying fungi represent a vital group of higher fungi that drive the cycling of matter and energy in forest ecosystems, and they have been the focus of thorough investigation. In this study, five new species, viz. Botryobasidium daweishanense, Inonotus subglobisporum, Kneiffiella bubalina, Xylodon granulanoides, and X. granulans from China, are described and illustrated based on the morphological characteristics and molecular phylogenetic analyses, in which the sequences of ITS+nLSU genes were used for the phylogenetic analyses by maximum likelihood and Bayesian inference methods. The phylogeny revealed that the Botryobasidium daweishanense groups with three taxa, viz., B. intertextum, B. leptocystidiatum, and B. subcoronatum. Inonotus subglobisporum is closely related to I. radiatus. Kneiffiella bubalina clustered sister to K. subalutacea. Xylodon granulanoides and X. granulans have a close relationship with X. bambusinus, X. fissuratus, X. subclavatus, X. montanus, and X. wenshanensis. Additionally, Xylodon granulanoides and X. granulans clustered together. Botryobasidium daweishanense is characterized by an araneose hymenial surface, fusiform, and cyanophilous basidiospores (6.1–7.3 × 3.3–3.9 μm). Inonotus subglobisporum is characterized by perennial basidiomata with lateral stipes, polygon pores measuring 4–6 per mm, and subglobose, cyanophilous basidiospores (3.6–4.3 × 2.8–3.5 μm). Kneiffiella bubalina is characterized by cream basidiomata and cylindrical to slightly allantoid basidiospores (8.0–8.9 × 1.8–2.3 μm). Xylodon granulanoides is characterized by grandinioid hymenial surfaces, various cystidia, and broadly ellipsoid, thick-walled basidiospores (4.7–5.3 × 3.6–4.1 μm). Xylodon granulans is characterized by grandinioid hymenial surfaces, capitate and clavate cystidia, and broadly ellipsoid basidiospores (3.8–4.2 × 2.9–3.3 μm). Phylogenetic analysis based on internal transcribed spacer (ITS) and nuclear large subunit RNA (nLSU) shows that the four species are members of Hymenochaetales, and one belongs to Cantharellales. All five new species are compared with morphologically and phylogenetically closely related species. The present study contributes to understanding the species diversity, taxonomy, and phylogeny of macrofungi in Southwestern China.