The yeast was isolated from the extracted potato juice. The yeast isolate was identified by comparing the characteristics of the Saccharomyces cerevisiae Reference strain (MTCC 172) and confirmed as Saccharomyces cerevisiae. The growth rate of Saccharomyces cerevisiae cultures were tested by using different sugars like glucose, sucrose and fructose. Among these, glucose supported maximum growth of 0.74% at 15% concentration after 48 hours of incubation but in fructose 0.54% and sucrose 0.40%, growth will occurred at 15% concentration after 48 hours of incubation. The growth rate of Saccharomyces cerevisiae cultures were tested by using different nitrogen source (Ammonium sulphate and Urea). Among the nitrogen source, maximum cell density 1.47 was observed at 48 hours of incubation when 1000 mg of Ammonium sulphate was added. In case of Urea, maximum cell density 1.38 was observed at 48 hours of incubation. The fermentation parameters such as pH, temperature and inoculum size were optimized for enzyme hydrolyzed potato waste residues. The pH parameters are 3.5, 4.5, 5.5 and 6.5 was taken. Among these 5.5 were ideal for yeast fermentation.