Lipases are very important from the industrial point of view, they are frequently used in food materials, detergents, medicines, cosmetics, leather, perfumes etc. This is the first report which characterizes lipase enzymes extracted from eight different species of Trichoderma. All species were isolated from the different locations of Uttar Pradesh. The best carbon source that induces the maximum lipase production was Tween-80. Maximum extracellular lipase activity and biomass production was achieved with Trichoderma harzianum on media supplemented with Tween- 80. The optimum temperature and pH for extracellular lipase activity were 7.0 and 40°C.