Endophytic fungi of inner root bark of Taxus wallichiana var. mairei were investigated in order to find endophytes producing 10-DABIII (10-deacetyl baccatin III). Purified colonies were cultured in potato dextrose broth (PDB), and then the organic extracts from fungi were analyzed with HPLC, LC-MS, and H-1 NMR. Of 102 fungal endophytes isolated from the inner root bark, only one strain named IRB54 can yield 10-DABIII but no taxol and baccatin III. In PDB culture medium, its productivity was 187.564 ug/l. Based on its morphological characteristics and molecular data, the IRB54 strain was identified as Trichoderma sp. The isolation of the fungus IRB54 yielding 10-DABIII will provide an alternative resource to manufacture taxol/taxotere via semi-synthesis and some useful clues for improving the understanding of taxane synthesis evolution.