The manufacture of enzymes, like L-asparaginase with less adverse effects in the treatment of cancer is an important facet of pharmaceutical industry. Yeast and filamentous fungi are commonly reported in scientific literature to produce L-Asparaginase with less adverse effects than prokaryotic microorganisms. L-Asparaginase production was investigated in the filamentous fungi Aspergillus terreus KLS2 a soil isolate from different regions of Gulbarga and produces 6.05IU.  The process economization were employed to achieve higher yield of L-Asparginase through solid state fermentation (SSF) and here we made an attempt to incorporate metal ions as a trace elements sources such as manganous sulphate, zinc sulphate, copper sulphate and ferrous sulphate and glycerol as alcohol source to the production medium. The maximum enzyme production i.e 6.66IU and 6.42IU were observed by using 0.01% manganous sulphate and zinc sulphate and 7.11 IU were observed by using 0.50% of glycerol.