The physical and chemical characteristics of fat produced by microorganisms depends on strain of microbes, growth conditions, structure of media, etc. Therefore, the consumption of the produced fat in human nutrition and useful industries is dependent on its chemical, physical and toxical properties. The physical properties of fats produced from Aspergillus niger, Aspergillus oryzae, Penicillium roqueforti and Rhizopus arrhizus including melting point, refractive index and specific gravity were studied. Chemical properties such as fat constants, acid number, peroxide value, saponification value and iodine value, fat composition and fatty acid composition for each oil were also investigated.