We evaluated the efficacy of $eta$-hemolytic Streptococcus(S.) iniae vaccine on cultured olive flounder. Three hundred flounders(weight $50{pm}5$ g) were obtained from two farm at Wando and Taean in the southern and western coast of Korea at May and June 2007, respectively. Twenty of flounders moved in 0.5 tons aquaria in land-marine tank system of National Veterinary Research and Quarantine Service. Seawater was transported from the sea of Inchon in western Korea, and water temperature maintained to $22^{circ}C$ and $25^{circ}C$ during the vaccination and challenge test, respectively. We used the formalin-inactivated $eta$-hemolytic S. iniae vaccine produced by domestic manufacturers. The vaccine was intraperitoneally administered to fish. The vaccinated and control group were challenged with intraperitoneal injection by virulent S. iniae SI-36 isolates with $5.0{ imes}10^8$ CFU/fish at 3 weeks after vaccination. We evaluated the vaccine efficacy by calculating numbers of dead fish, and observing of clinical signs, exterior and gross lesions, and examining bacteria isolation and identification. Thirty-four(25.2%) of 135 control and vaccinated group fish were dead with serious anemia, abdominal extension, and hernia of intestine during 3 weeks post vaccination. We isolated Neoheterobothrium hirame from the buccal cavity and Edwardsiella tarda from kidney of dead and diseased fish. When infected fish with these agents were challenged with S. iniae SI-36 isolates, the cumulative mortality of control and vaccinated group were 86.7, and 46.7%, respectively. However, significant differences(p<0.05) were observed on cumulative mortality between control(20.0%) and vaccinated group(95.0%) at second trials with 40 healthy, and relative percent survival(RPS) was 78.0%. We confirmed that the efficacy of $eta$-hemolytic S. iniae vaccine on olive flounder were impacted by health condition such as bacterial and parasitic diseases.