Heat the olive oil in a large pan over medium heat. Add the onion and garlic, and sauté until translucent.
Add the mushrooms and cook until they release their moisture and become golden brown.
Stir in the Arborio rice and cook for a minute until the rice is well-coated with oil.
Pour in the white wine (if using) and cook until it's mostly absorbed.
Add a ladle of vegetable broth to the rice and stir until absorbed. Continue adding broth, one ladle at a time, stirring frequently until the rice is creamy and cooked through.
Stir in the nutritional yeast, and season with salt and pepper to taste.