In the present study, a new lipase SL-4 from Burkholderia ubonensis SL-4, was purified by 80% ammoniumsulphate precipitation, Q Sepharose FF anion exchange and Superdex 75 gel filtration chromatographyfinally leading to 68.5-fold purification and 13.34% recovery. It had a molecular mass of ca. 33 kDa and thewhole gene (1095-bp) was cloned by using degenerate primers. Amino acid sequence analysis revealedthat lipase SL-4 is a new member of subfamily I.2 lipases. Lipase SL-4 exhibited optimum activity towardp-NP myristate (C14) at pH 8.5 and 65◦C with a Kmof 0.72 mM, a kcatof 391.63 s−1and a kcat/Kmof543.93 s−1mM−1. It had good thermostability at 50◦C and pH 8.5, and could be activated strongly by Ca2+and Mn2+, but inhibited by some transition metal ions and EDTA, PMSF, DTT and -ME. Additionally, lipaseSL-4 possessed non-ionic detergent stability and organic solvent stability. When preliminarily employedto catalyze soybean oil for biodiesel production, the liquid lipase SL-4 could attain a conversion ratio of92.24% in a solvent-free system. These results demonstrate that the new thermo-solvent-stable lipasepossesses an attractive potential for biotechnological applications as biocatalyst, especially for biodieselproduction.