To optimize the culture conditions for Beauveria bassiana 726, the effects of culture medium, pH, and temperature on mycelium and spore production were investigated. The optimum temperature and pH for the cultivation of B. bassiana 726 were 28 $^{circ}C$ and 5.0, respectively. The optimized medium was composed of 1.0~2.0% total sugar from molasses, 0.5% corn steep liquor and 0.05% KH$_2$PO$_4$. In the cultivation of B. bassiana 726 with the optimum medium, the specific growth rate and substrate utilization were well-fitted with the proposed kinetic model in the shake flask and stirred tank reactor. When the fed-batch cultivation using carbon suorce, nitrogen source, and mineral salt as a feeding medium was compared with batch cultivation in stirred tank reactor, mycelium (12.7 g/L) and spore production (5.4$ imes$$10^8/mL$) were enhanced up to 110% and 85%, respectively.