This study was carried out to investigate the characteristics of fermented chinese yam and rice (Dioscorea japonica, Dioscorea batatas, Dioscorea opposita, Rice, FCYR) using Monascus sp. MK805. The extracts from FCYR were measured to examine pigments, antioxidant activities were investigated through DPPH radical scavenging activity, total polyphenol and flavonoid contents, reducing power. Also it was investigated monacolin K productivity by FCYR. Pigments productivity (yellow, orange and red) were 26.2, 13.9, 17.3 at Dioscorea japonica, 41.9, 22.6, 53.2 at Dioscorea batatas, 12.5, 7.5, 9.7 at Dioscorea opposita and 10.1, 7.7, 10.2 at rice, respectively. DPPH radical scavenging activity of FCYR was about 69.7, 79.6, 57.8, and 42.3%, total polyphenol contents of FCYR was about 480.6, 658.7, 379.3, and 212.9 mg/kg, total flavonoid contents of FCYR was about 342.5, 448.4, 235.2, and 168.7 mg/kg, reducing power of FCYR was about 1.57, 2.14, 1.14, and 0.35 (OD at 700 nm), respectively. And then monacolin K productivity of FCYR was about 453.8, 509.5, 332.2, and 263.2 mg/kg, respectively.