Streptomyces sp.  strain ERIMA-01 was isolated from marine sponge. The strain was grown in ISP 2 medium to study the morphology and biochemical characteristics. The strain was subjected to 16S rRNA and identified as Steptomyces sp. The nucleotide sequence of the 16S rRNA gene of Streptomyces sp. strain ERIMA-01 exhibited close similarity with other Streptomyces. The accession number was FJ865352. Antifungal metabolite production of ERIMA-01 was evaluated using five different fermentation media.  Most active broth (MNGA) was extracted with ethyl acetate. The ethyl acetate extract inhibited the growth of all the tested fungi (Trichophyton mentagrophytes at 62.5µg/ml, Trichophyton rubrum  at 31.25 µg/ml, Trichophyton simii at 125 µg/ml, Scopulariopsis sp  at 125 µg/ml, Aspergillus flavus at 250 µg/ml, Aspergillus niger at 62.5 µg/ml, Botrytis cinerea at 125 µg/ml, Candida albicans at 15.2 µg/ml, Candida krusae at 31.25 µg/ml, Candida tropicalis at 125 µg/ml and Candida parapsilosis at 125 µg/ml. Most active ethyl acetate extract was subjected to GC-MS analysis which showed 38 components. The major compound was 1- tetradecanol. The present paper reports the isolated Streptomyces sp. Showed good antifungal activity.