The main objectives of this study was to production and characterization of lipases and immobilization of whole cell of the Thermomucor indicae seudaticae N31.For lipase production by SSF and SmF using whole cells immobilized on LS as the catalyst.The resulting were able to produce lipase activity in SSF and SmF. The data obtained from SmF (5.5 U mL-1), SSF (18.0 U g-1) and whole cells immobilized on LS (108 U g-1). but these lipases were different since the enzyme from SmF presented maximum activity at neutral pH (6.0–7.0) whereas the lipase from SSF displayed maximum activity at acidic pH (3.0–4.0). The lipases produced through both SSF and SmF exhibited maximum lipolytic activity at 40◦C.The transesterification using soybean oil show a yield of 13.2% and The esterification using oleic acid show a yield of 28%. Thus, the lipase production of both the immobilized whole cells as well as the cultivated fungus T. indicae seudaticae N31 may be considered promising in synthesis reactions.