White rot fungus Cerrena unicolor IUM 5400 produced ethanol from diverse sugars, including glucose, mannose, galactose, and cellobiose at 0.38, 0.28, 0.08, and 0.27 g of ethanol per g of sugar consumed, respectively. The fungus produced relatively high amounts of ethanol from xylose (0.28 g of ethanol per g of sugar consumed); however, the ethanol conversion rate of arabinose was relatively low (at 0.08 g of ethanol per g sugar consumed). When cultured in a basal medium containing 20 g/L rice straw or corn stalks, C. unicolor IUM 5400 produced 0.18 g and 0.18 g of ethanol per g of rice straw and corn stalks, respectively. The results suggest that C. unicolor IUM 5400 is a white rot fungus that can effectively hydrolyze cellulose or hemicellulose to sugars and simultaneously convert them to ethanol.