A new fungus Ceriporia lacerate P2 which belongs to family Polyporaceae was evaluated for its ability to decolorize two different dyes Alizarin Red and Methyl Orange. Different parameters such as incubation time, pH, carbon source, nitrogen source and carbon/nitrogen regimes were used to find out the optimum medium for Ceriporia lacerate P2 on its ability of decolorization. The results show that the fungus had different ability to decolorize the two tested dyes. For Alizarin Red, the most suitable medium was at pH 3 and the best carbon and nitrogen source were sucrose and ammonium nitrate. While for Methyl Orange, the optimum medium was at pH 7–9 and the best carbon and nitrogen source were sucrose and urea.