A filamentous fungus, strain FM04 producing amylase was isolated from rotten yam peels and potatoes. The favorable conditions of cultivation factors such as, temperature, pH, and agitation speed of strain FM04 were 28∼30$^{circ}C$, 5.0∼6.0, and 100 rpm, respectively. Starch was the best carbon source in the amylase production. Therefore, food wastes containing lots of starch were employed as the carbon source of the cultivation for the economical amylase production. 5.2 U/ml of amylase was obtained In the cultivation using 1 % (w/v) of food wastes. The amylase showed the highest activity at enzyme reaction conditions of 60$^{circ}C$ and pH 4.5 and showed 90% of residual activity after the reaction at 50$^{circ}C$ for 2 days. In the enzymatic hydrolysis reaction using 20% (w/v) of food wastes and 2.5 U/ml of amylase, 72.6 g/l of reducing sugar was obtained at the reaction condition of 50$^{circ}C$, pH 4.5 for 2 days.