Recombinant yeast strain harboring genes for human Granulocyte Macrophage Colony Stimulating Factor (hGM-CSF), a hematopoietic factor, was cultured in a fed batch mode. Since hGM-CSF is able to be expressed with an aid of alcohol dehydrogenase Ⅱ(ADH Ⅱ)promoter of the yeast strain, ethanol concentration in medium was controlled to obtain a high yield of hGM-CSF. Three culture methods(batch, fed-batch with constant glucose feed, and fed-batch with increasing rate of glucose feed) were compared for the high yield of hGM-CSF. Ethanol concentration was well maintained in the fed batch culture with increasing glucose feed, and consequently yielded a high expression level of hGM-CSF, which was 12 times larger than that of batch culture per unit OD.