A potential fungal lipid producer from starch, which was identified as Muror plumbeus, was isolated from natural sources and its optimum cultivation condition for lipid production was investigated. The Mucor plumbeus FRI 0007 showed the highest felt weight and lipid content which were 2.09 $pm$ 0.24g per 50$mell$ of medium and 37.43% on dry weight basis respectively after 20 days incubation on the medium containing 21% of starch as a carbon source. The urea was the best nitrogen source as compared with sodium nitrate, potassium nitrate, magnesium nitrate, ammonium nitrate and ammonium acetate and its optimum concentration was 2.14g/$ell$, showing 2.39 $pm$ 0.07 g felt/50$mell$ of medium and 50.73% lipid content on dry weight basis after 25 days incubation. Besides the starch as a carbon source and urea as a nitrogen source, the Mucor plumbeus FRI 0007 utilized ZnSO$_4$, MgSO$_4$, NaH$_2$PO$_4$, $K_2$SO$_4$and FeCl$_3$as mineral sources. However, it did not require ail the above 5 minerals in group in-dispensably for its growth and lipid accumulation. The lipid and economic coefficient of Mucor plumbeus FRI 0007 grown on the medium containing 0.44g $K_2$SO$_4$or 5.00g MgSO$_4$/$ell$solely were 14.96 and 15.37 and 31.12 and 26.10 which was higher than those on the medium containing the above 5 minerals.