A high xylitol producing yeast was isolated from the sludge of xylose manufacturing factory and then identified as Candida tropicalis DS-72 according to physiological properties. The strain was able to produce xylitol in a high concentration up to 72g/l from 100g/l xylose in 32 hours. Medium optimization for xylitol production by C. tropicalis DS-72 was performed. Effect of various nitrogen sources on xylitol production was investigated. Of nitrogenous compounds, yeast extract was the most suitable organic nitrogen nutrient for the enhancement of xylitol production. However, inorganic nitrogen resulted in a low cell concentration and did not produce xylitol. Effect of inorganic salts such as KH$_{2}$PO$_{4}$, and MgSO$_{4}$, 7H$_{2}$O on xylitol production was also studied. Optimal medium was selected as xylose 100g/l, yeast extract 10g/l, KH$_{2}$PO$_{4}$, 5 g/l and MgSO$_{4}$, 7H$_{2}$O 0.2 g/l. Xylitol of 88 g/l was produced from 100 g/l xylose in 30 hours using the optimal medium in a flask. In a fermentor, a fed-batch culture with 300g/l xylose was carried out. A final xylitol concentration of 240 g/l in the culture could be obtained in 43 hours of culture time by maintaining the high level of dissolved oxygen during growth phase and limiting the dissolved oxygen in the same culture during production phase. This result corresponded to a xylitol yield of 80% and a xylitol productivity of 5.58 g/1-h.