This study was initiated to evaluate ethanol production by a Korean isolate of white rot fungus Irpex consors. It was found that the fungus could produce ethanol by converting glucose, mannose, xylose, and cellobiose under semi-aerobic condition with yields of 0.23, 0.19, 0.21, and 0.17 g ethanol per g sugars, respectively. Furthermore, the strain produced ethanol by simultaneous saccharification and fermentation of rice straw treated with steam pressured boiling water, 3% NaOH, and 3% H2SO4 with maximum yields of 0.12, 0.15, and 0.19 g ethanol per g rice straw, respectively. These results suggested that I. consors could produce ethanol from the components of cellulose and hemicellulose including glucose, mannose, xylose, cellobiose as well as rice straw treated with steam pressured boiling water, dilute sodium hydroxide, and dilute sulfuric acid. This is the first report that I. consors mycelia produce ethanol from various sugars and lignocellulosic substance including rice straw.