Cytochrome P450 monoxygenase that is involved in the biosynthesis of ganoderic acids (GA), a group of highly oxygenated lanostane-type triterpenoids which well recognized as a main group of unique bioactive compounds in the medicinal mushroom Ganoderma lucidum (PubMed:29476632, PubMed:31449331, PubMed:31865439). CYP5150L8 alone is able to catalyze the three-step oxidations at C-26 from lanosterol to 3-hydroxy-lanosta-8,24-dien-26-oic acid (also called ganoderic acid Z or HLDOA) (PubMed:29476632). The methyl group of lanosterol at C-26 is first oxidized into hydroxyl group to form 3-hydroxy-lanosta-8,24-dien-26-ol (HLDO) (PubMed:29476632). The hydroxyl group at C-26 of HLDO is further converted into a formyl group to form 3-hydroxy-lanosta-8,24-dien-26-al (HLDA) (PubMed:29476632). Finally, the formyl group is oxidized into a carboxyl group to produce 3-hydroxy-lanosta-8,24-dien-26-oic acid (HLDOA) (PubMed:29476632). lanosterol + O2 + reduced [NADPH--hemoprotein reductase] = 26-hydroxylanosterol + H(+) + H2O + oxidized [NADPH--hemoprotein reductase] 26-hydroxylanosterol + O2 + reduced [NADPH--hemoprotein reductase] = 26-oxolanosterol + H(+) + 2 H2O + oxidized [NADPH--hemoprotein reductase] 26-oxolanosterol + O2 + reduced [NADPH--hemoprotein reductase] = 3beta-hydroxy-lanosta-8, 24-dien-26-oate + 2 H(+) + H2O + oxidized [NADPH--hemoprotein reductase] Secondary metabolite biosynthesis; terpenoid biosynthesis. Expression is induced in ganoderic acid (GA) producing conditions. Leads to a significant decrease in the titer of the 4 ganoderic acids Mk, T, S and Me. Belongs to the cytochrome P450 family.