Edible wild mushrooms (EWM) called as “forest meat” are highly demanded functional foods and nutraceuticals due to their rich macro and micronutrients, aroma compounds, bioactive components, and high commercial significance. Cantharellus cibarius Fr. is an ectomycorrhizal, culinary-medicinal mushroom that has been consumed as a food and therapeutic agent from Eurasia to the Americas and Africa for centuries. Fresh and processed C. cibarius are among the most economically significant species of the EWM trade in Turkey and all over the world. These mushrooms not only have a wonderful apricot-like flavour but also a soft, non-crumbling texture. However, like all fresh EWM, C. cibarius deteriorate so quickly that once harvested from nature, rapidly progressive changes are observed in nutritional quality, biological activity, and physical and sensory properties. Therefore, apart from traditional methods such as cooking, drying, freezing, and pickling, new processing technologies with different pretreatments and various post-harvest storage conditions are applied to extend the shelf life of C. cibarius mushrooms and to maintain their nutritional, phytochemical and sensory quality. This review focuses on recent studies on these different mushroom preservation and processing methods and their effects on nutrient and biocompound content, and sensory and bioactivity properties of C. cibarius.