This study was carried out to get the basic information for the submerged culture and analyze the biochemical components of Naematoloma sublateritium mycelia. The optimal temperature, pH, agitation speed and cultural time for the mycelial growth of Naematoloma sublateritium were $25^{circ}C$, 5.5, 150rpm and 20 days, respectively. The proximate composition of mycelia was as follows; carbohydrate 55.8% (total sugar 48.7%), crude protein 22.4%, fat 4.1 % and ash 4.7% respectively. Among the free amino acid contents, phenylalanine, alanine and lysine were predominant component. The linoleic acid and palmitic acid were found to be the highest among the free fatty acids. The biopolymer extracts of mycelia was identified to be protein-bounded polysaccharide by color reaction and sepharose CL-4B gel chromatography.