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This review contains information on the physiological role of glycerol as an osmoprotective and cryoprotective factor in the vital activity of yeast cells. The significance of glycerol biosynthesis in yeast during cultivation under anaerobic and microaerophilic conditions is shown. The dependence of glycerol production by yeast on the culturing conditions and the composition of nutrient media is discussed. The publications on glycerol production by various yeast taxonomic groups have been analyzed. Based on the studied literature material, the prospects for the use of yeast organisms as glycerol producers by fermentation are predicted.