A simple, but effective on-line method for estimating the mycelial cell mass concentration from agitation speed data, a most readily-available process variable, has been developed for DO-stat cultures of Agaricus blazei. The dynamic change of dissolved oxygen concentration (DOC) in the initial transient period and the change in yield were considered in the development of the estimation algorithm or estimator. Parameters in the estimation algorithm were calculated from the agitation speed data at 20% of DOC. The proposed estimator could accurately predict the cell mass concentration regardless of DOC levels in the tested range of $10{sim}40%$, showing a good extrapolation capability.