The scientific name Ganoderma lucidum has long been used in the global medicinal mushroom market, and many publications have proven its pharmacological properties and chemical components. Although several Ganoderma species have been described worldwide as having morphology considerably similar to that of G. lucidum s. str., this binomial is still the most frequently used in pharmacological studies. However, the use of particularly divergent nomenclature has caused major difficulties in the evaluation of the results of pharmacological studies. This article is intended to provide a nomenclatural and taxonomic overview of the medically important G. lucidum group, that is, G. lucidum aggregate and G. lingzhi. Moreover, we evaluate the possibilities of how nomenclatural changes can help to avoid misunderstandings in thousands of publications and highlight scientifically correct interpretations for future studies.