The prime objective of biochar production is to contribute to nutrients recycling, reducing waste and converting useful bio-wastes into carbon rich products in the environment. The present study was intended to systematically evaluate the effect of pyrolysis conditions and characteristics of feedstock influencing the generation of biochar. The study revealed the nutritional importance of waste mushroom substrate (WMS) biochar which may elevate soil nutritional status and soil quality. The results showed that the yields and properties of WMS biochar depended principally on the applied temperature where pyrolysis at higher temperatures, that is, 600 °C and 700 °C produced biochar having high ash, P and K contents. Moreover, numerous useful macro and micro nutrients such as Ca, Mg, Fe and Zn were observed to positively correlate with the increase in temperature. The WMS biochar in our study is highly alkaline which can be used to rectify acidic soil pH. Overall our results suggest that WMS biochar being a rich source of nutrients can be the best remedy to maintain and further enhance the soil nutritional status. Thus by interpreting biochar feedstock characteristics and pyrolysis conditions, the regulation of tailored WMS biochar manufacturing and application in soil can be facilitated.