Abstract: An oleaginous yeast strain, Cryptococcus curvatus NRRLY-1511 was used for the production of single cell oil (SCO) using a low cost cultivation medium containing beet molasses and corn gluten meal as carbon and nitrogen sources. Obtained results showed that 125 and 0.130 g L-1 showed to be the optimum concentrations for carbon and nitrogen, respectively. In addition, 28°C, 72 h, 5.5, 200 rpm were the favorable values of growth temperature, incubation period, pH value of cultivation medium and agitation speed, respectively. The extracted lipids were mainly 30.68% linoleic acid (C18:2), 22.66% oleic acid (C18:1) and 16.74% palmitic acid (C16:0). Furthermore, the GC analysis also showed that the total saturated fatty acids (n = 9) represented 41.96% while the value of the total unsaturated fatty acids (n = 6) was 58.04%. These results giving possibility to use such this yeast strain to produce SCO in a low cost medium from economic point of view.