The transesterification activity of powder lipase prepared from the purified lipase of Rhizopus chinensis cells by freeze-drying was quite low compared with that of acetone-dried cells. Additives which could enhance the transesterification activity of the freeze-dried powder lipase were screened. The freeze-dried lipases prepared with certain fatty acid methylesters or certain types of surfactants exhibited high transesterification activity. It was shown that not only the solubility of the freeze-dried Lipase in n-hexane but also the organic solvent-stability was enhanced when methyl stearate was added to the lipase solution at the freeze-drying step.