Preparative isolation of lipid granules from Fhodotorula glutinis, which has been studied for long time to produce edible lipids, was carried out by flotation method in Ficoll-Linear density gradient. When the isolated lipid granules were suspended in a series of solutions containing varying concentration of osmotic stabilizer (sorbitoal and mannitol) ranging from 0.8M to 0M, the lipid granules appeared to be disrupted at a concentration between 0.8M and 0.7, and again at a concentration below 0.1M, suggesting that lipid granules have a membraneous structure and that at least two types of lipid granules are present. Compositional analysis of lipids from lipid granules revealed that lipids are composed mainly of neutral lipids (87.8% of total lipids), predominantly as triacylglycerols (71.89%). Marked differences were observed inphospholipids between lipids of lipid granules and those of whole cells . The major components of phospholipids in lipid granules and inwhole cells are phosphatidylcholine(38.6%) and phosphatidylserine(42.8%), respectively. In addition, significant differences were also observed in the fatty acid composition of phospholipids. As phospholipids are important structural components of membranes, these differences lead to the suggesting that the membrane of lipid granules may be distinct functionally and structurally from other membranes of yeast cells. The major fatty acid components of neutral lipidss of whole cells and lipid granules are palmitic , oleic and linoleic acid. However , degreeof fatty acid unsaturation of neutal lipids of lipid granules was much lower than that of neutral lipids of whole cells.