Two culture modes, continuous and semi-continuous, of the decolorization fungus, Geotrichum candidum Dec 1, were compared to obtain a high treatment efficiency of molasses decolorization and a large productivity of peroxidase (DyP) to simultaneously decolorize dyes and molasses. The continuous culture of G. candidum Dec 1 using a 5-I jar-fermentor showed high DyP activity at a low dilution ratio of $0.005h^{-1}$, and decolorization ratio of molasses of 80% was obtained concomitantly. Therefore, a semi-continuous culture was performed by repeated refill and draw. In this mode, approximately 1.5 liters of the culture broth was replaced per cycle when the decolorization ratio of molasses was near 80%. The molasses medium (1.0 liter per day) was treated and the peroxidase productiveity in the drawn culture broth was 26.6U/day, whereas the peroxidase productiveity was 17.9U/day in the continuous culture with a dilution rate of $0.005h^{-1}$. The semi-continuous treatment system was an efficient decolorization method for the strain, G. candidum Dec 1.