This study was carried out to examine the optimum culture condition for the production of cellulose from Saprolegnia ferax and its physical characteristics. Conclusions obtained from the results of this study were as follows: In producing the cellulose from S. ferex, optimal pH and temperature were 7.0 and $26{sim}30^{circ}C$ with a maximum of $26^{circ}C$, respectively. And, optimal culture period was 11days. WHC and OHC of biocellulose were 3.2(25.04 g/g) times and 3.5(25.75 g/g) times higher than those of commercial ${alpha}-cellulose$(7.57, 7.25 g/g) respectively. The viscosity of biocellulose is lower than that of commercial ${alpha}-cellulose$. And the effect of rpm on the viscosity of biocellulose was more than on the that of ${alpha}-cellulose$.