A yeast strain SL-27 found to produce active intracellular tyrosinase inhibitor was screened from 972 kinds of yeasts. It was identified as Malassezia pachydermatis based on microbiological characteristics. The optimum pH and temperature for the growth of Malassezia pachydermatis SL-27 were pH 7.0 and $37^{circ}C$, respectively. The optimal culture conditions for the production of tyrosinase inhibitor by Malassezia pachydermatis SL-27 were investigated. The optimal medium cimposition for tyrosinase inhibitor production was determined to be 1.0% casamino acid, 2.0% glucose, 0.1% $KH_2PO_4$, 0.05% $MgSo_{4-}7H20$ and each 0.01 of $CaCl_2$ and NaCl. Optimal initial pH and temperature for the production of tyrosinase inhibitor were pH 5.0 and $30^{circ}C$, respectively. The maximum tyrosinase inhibitory activity of 84%/mL of cell-free extract was showed after 12 h of cultivation under the optimal culturing conditions.