This work investigates the continuous production of fatty acid ethyl esters from soybean oil in compressed fluids, namely carbon dioxide, propane and n-butane, using immobilized Novozym 435 as catalyst. The experiments were performed in a packed-bed bioreactor evaluating the effects of temperature in the range of 30-70 degrees C, from 50 to 150 bar, oil to ethanol molar ratio of 1:6-1:18 and solvent to substrates mass ratio of 4:1-10:1. In contrast to the use of carbon dioxide and n-butane, results showed that lipase-catalyzed alcoholysis in a continuous tubular reactor in compressed propane might be a potential route to biodiesel production as high reaction conversions were achieved at mild temperature (70 degrees C) and pressure (60 bar) conditions in short reaction times. (C) 2009 Elsevier Ltd. All rights reserved.