In horseradish peroxidase-catalyzing polymerization of phenol under the water/dioxane solvent system, the optimal concentration of hydrogen peroxide was found to be 10 mmol/I. Feeding of hydrogen peroxide at its optimal concentration improved the polymerization performance by reducing reaction time and increasing molecular weights. Monomer conversions and the molecular weights of the enzymatically produced polymer were in the ranges of 83.1~94.2$%$ and 58000~68000, respectively.