This study was carried out to investigate the effect of storage period on the physico-chemical properties of tobacco leaves expanded by $CO_2$. The flue-cured and burley tobacco leaves produced from 1996 to 1999 were processed, and stored for that year or 3 years in processing plant. As compared with 1996 crop, the expanded rate of flue-cured tobacco leaves in 1999 crop was higher approximately 18%, while that of burley was higher about 10%. The filling capacity of cigarettes was decreased as storage time became shorter, but the combustibility was improved. The rate of large particles (over 3.36mm) of expanded tobacco showed decreasing tendency as the storage period became longer. The change rate of chemical contents in tobacco leaves between before and after expansion had no significant difference among corp years. The tar and CO contents of cigarettes smoke were reduced in the case of flue-cured tobacco leaves as storage time became shorter, while they were slightly increased in the case of burley tobacco leaves. The ammonia content of burley leaves was decreased remarkably in 1996 and 1999 crop.