This paper presents the nature-inspired genetic algorithm (GA) and particle swarm optimization (PSO) approaches for optimization of fermentation conditions of lipase production for enhanced lipase activity. The central composite non-linear regression model of lipase production served as the optimization problem for PSO and GA approaches. The overall optimized fermentation conditions obtained thereby, when verified experimentally, have brought about a significant improvement (more than 15 U/gds (gram dry substrate)) in the lipase titer value. The performance of both optimization approaches in terms of computational time and convergence rate has been compared. The results show that the PSO approach (96.18 U/gds in 46 generations) has slightly better performance and possesses better convergence and computational efficiency than the GA approach (95.34 U/gds in 337 generations). Hence, the proposed PSO approach with the minimal parameter tuning is a viable tool for optimization of fermentation conditions of enzyme production.