To improve microbial lipid production, we inserted mTn-lacZ/leu2 into Trichosporon fermentans 2.1368-Leu? to obtain high lipid production mutants. By observing the LacZ chromogenic change, the positive reaction between Cerulenin (inhibitor of fatty acid synthase) and phosphate vanillin, a higher lipid-producing mutant 2.1368-Leu?-7 grown on corn-stalk hydrolysate was obtained. The lipid content of this mutant reached 38.30% (8.97% higher than that of the control) and the lipid production rate was 8.35% (20.63% higher than that of the control). The rate of sugar utilization was 77%, meaning that 100 g corn-stalk could be converted to 8.32 g lipid. The study provided an effective method for microbial lipid production by using cheap raw materials for biodiesel.