A polyethylene based packaging material containing nano-Ag, nano-TiO2, nano-SiO2, and attapulgite has been prepared. The effect of nanocomposite packaging material (Nano-PM) on the senescence of Flammulina velutipes during 15 days of postharvest storage at 4 °C and a relative humidity of 90% were analyzed. The results showed that compared with normal packaging material (Normal-PM) and no packaging (No-PM), Nano-PM improved the appearance quality, reduced weight loss and cap opening. The degree of maturity and increase in molecular weight of F. velutipes polysaccharides (FVP) were delayed. The content loss of proteoglycan protein was less and degree of oxidation was lower. The storage with Nano-PM reduced the fibrosis of texture, cellulase activity, the accumulation of hydrogen peroxide (H2O2) and superoxide radical (O2radical dot−) by 18.9%, 48.3%, 26.6% and 27.8%, respectively (P < .05). The Nano-PM effectively delayed the postharvest senescence of F. velutipes, hence prolonged its shelf life and increased its preservation quality.