Lovastatin is a secondary metabolite produced by filamentous fungi,such as Aspergillus terreus and Monascus sp.Lovastatin competitively inhibits 3-hydroxy-3-methylglutaryl CoA(HMG-CoA) reductase,the rate-limiting enzyme in cholesterol biosynthesis and lower plasma cholesterol level,particularly lower low density lipoprotein level in human.Lovastatin can reduce the risk for coronary artery disease morbidity and has emerged as a preventive drug for hypercholesterolemia and cardiovascular disease.Recently,many studies have been done on the production of lovastatin by liquid fermentation and a series of the important results have been achieved.Therefor,in this paper we review the research progresses on the microbe strains and the strain screening,the effects of carbon and nitrogen source and the fermentation conditions on the production of lovastatin by various fungi under liquid fermentation.