This paper is a quite extensive introduction of feed yeast industry, in which the nutritional value and importance of developing products of feed yeast were presented. The nutritional value of feed yeast is no lower than that of fish powder. From a longterm point of view, it is to pay great emphasis on developing feed yeast industry that is the effective way to solve the problem of feed protein shortage in our country.Some proposals for producing feed yeast by making full use of agricultural-forest cellulosic wastes and organic waste liquor were offered as well.