The optimization of conditions for the cultivation of Agaricus blazei was conducted in order to do mass production of mycelia by submerged cultivation. The carbon source and nitrogen source of medium were selected with high fructose syrup and soybean flake, and their optimized concentrations were determined as 8% and 3% respectively. Operation conditions were also optimized as the culture temperature of 25oC and pH of 6.5. The production of mycelia in the fermenter with optimized culture conditions has reached to 8.04 g/L, which was about 3 times as much as that of conventional flask cultivation. In the fed-batch cultivation, the productivity of Agaricus blazei mycelia was 12.01 g/L during 10 days.