Glucose and xylose are the most abundant materials in nature which can be used to produce ethanol by yeast fermentation. Three combinations of cultivation with glucose and xylose were carried out; separated, co-culture, and sequential fermentation with Saccharomyces cerevisiae and Pichia stipitis. In the separated fermentation, S. cerevisiae fermented glucose to produce 14.5 g/l ethanol from 29.4 g/l glucose but hardly used xylose. However, P. stipitis utilized not only glucose but also xylose to produce ethanol 11.9 g/l and 11.6 g/l from 29.4 g/l glucose and 29.0 g/l xylose, respectively. In the mixture of glucose and xylose, P. stipitis fermented both sugars, producing 21.1 g/l ethanol while S. cerevisiae fermented only glucose, producing 13.4 g/l ethanol. In the co-culture and sequential fermentation, the co-culture showed more efficient ethanol productivity with 18.6 g/l ethanol than the sequential fermentation with 12.4 g/l ethanol. To investigate the effect of nutrients in the growth of microorganisms and ethanol production, yeast nitrogen base (YNB) was used in the sequential fermentation with S. cerevisiae and P. stipitis. YNB supplemented some nutrients which S. cerevisiae used up in the broth and the culture showed increased growth rate, increased consumption of xylose, and increased ethanol productivity producing 22.5 g/l ethanol from 54.6 g/l sugar with a yield of 0.41 g/g.