Some enzymatic properties of the lipase extracted from rice bran were studied. The rate of free fatty acid formation as a function of incubation time was maximum after 30 min. at $35^{circ}C$. The activation energy of the enzyme was 1.83 Kcal/mol and using a olive oil emulsion as substrate, the Km value was $0.8{ imes}10^{-3}M$. The enzyme activity was more stimulated by calcium ion. Application of these enzymatic properties onto the effective utilization of rice bran and preservation of rice were discussed.