During our search for ethanol-producing basidiomycete fungi for a wide range of substrates, we isolated Phlebia acerina, which is a white rot basidiomycete fungus. It favorably converted starch into ethanol with approximately 70% yield. Although the yield decreased as the starch concentration increased, growth and fermentation were observed even at 200 g/L of starch. P. acerina produced ethanol from glucose, galactose, mannose, xylose, cellobiose, and maltose with 93%, 91%, 86%, 72%, 92%, and 68% yields, respectively. Additionally, P. acerina, which secreted xylanase and xylosidase, was capable of assimilating xylan and directly converting it to ethanol with a yield of 63%. Furthermore, P. acerina produced ethanol directly from acorns, which are plant fruits containing starch and tannins, with a yield of 70%. Tannin delayed mycelia growth, thus prolonging ethanol production; however, this did not particularly affect the yield. These results were similar to those of fermentation in a medium with the same amounts of starch and tannin as the target crop acorn, thus suggesting that P. acerina could successfully produce environmentally friendly ethanol from starch-containing lignocellulosic biomass, unlike previously reported ethanol-producing basidiomycete fungi.