A continuous fermentation system employing immobilized cells of Zymomonas mobilis and Saccharomyces cerevisiae was studied for the mass production of ethanol. Ethanol production by cells immobilized with Ca-alginate was better than those by cells immobilized with K-carrageenan. Maximum ethanol production employing a continuous system by cells immobilized with Ca-alginate was 77.5 $g.l^{-1}h^{-1}$ at a dilution rate of 1.85 $h^{-1}$ with 82% conversion rate for Z. mobilis while that was 40.2 $g.l^{-1}h^{-1}$ at a dilution rate of 0.92 $h^{-1}$ with 85% conversion rate for S. cerevisiae. These results suggest that Ca-alginate is a better cell immobilization matrix than K-carrageenan and that immobilized cells of Z. mobilis are more efficient than S. cerevisiae for ethanol production.