ABSTRACT The cocoa and palm oil agro-industries active in the state of Bahia, Brazil, generate high quantities of lignocellulosic wastes that could be recycled through their use in the formulation of substrates to cultivate edible mushrooms. Pleurotus ostreatus, also known as oyster mushroom, is the second most cultivated mushroom in the world due to its highly appreciated gastronomic, nutritional, and medicinal characteristics. This work evaluated the vertical mycelium growth, biological efficiency, mushroom yield, and nutritional composition of P. ostreatus produced in substrates formulated with a combination of palm oil fruit mesocarp (POFM) and cocoa almond peels (CAP) processing wastes. The substrates were formulated with the following POFM/CAP proportions (%/%): S1 – 86.4/9.6; S2 – 76.8/19.2; S3 – 67.2/28.8; S4 – 57.6/38.4, and S5 – 48.0/48.0. Substrates also received 3% powdered charcoal and 1% calcium carbonate. Substrates S1, S2, S3, and S4 were superior for vertical mycelium growth. S2 promoted the best biological efficiency (148.8%) and yield (560.5g·kg-1).The mushrooms produced in all substrates presented good nutritional values, although mushrooms produced using the S2 presented the highest crude protein content. Overall, S1 is the recommended substrate as it results in higher yields of nutrient rich mushrooms. Production of P. ostreatus in substrates composed of POFM and CAP represents a good alternative for recycling these wastes with potential economic and ecological benefits to regions where palm oil and cocoa are grown.