The influence of the temperature and the pH on the activity and stability of two lipases (A and B) from the fungus Mucor miehei has been studied. It has been shown that the temperature and the pH optimum are between 55 and 45°C and 8.7–8.8 and 8.2–8.3, respectively, for A and B. The study of the thermal and pH stabilities of the enzymes has shown that lipase A is stable at 50°C for 5 h, while lipase B loses its activity completely under these conditions. Both lipases are stable between pH 5.0 and 8.5. Both enzymes actively hydrolyze various natural oils and exhibit position specificity with respect to a-ester bonds.