This study was conducted to investigate the characteristics between non-fermented chinese yam and rice (non-FCYR) and fermented chinese yam and rice (FCYR). 1.1-diphenyl-2-picrylhydrazyl (DPPH) radical scavenging activity, total polyphenol, flavonoid contents and reducing power were investigated to evaluate the anti-oxidation activities of FCYR. Also, productivity of monacolin K, major medicinal ingredient of FCYR, was investigated, using Aspergillus terreus KCCM 12225. In case of non-FCYR, DPPH radical scavenging activities for three kinds of yam (Dioscorea japonica, Dioscorea batatas, Dioscorea opposita) and rice were estimated about 51.8, 66.4, 42.2 and 7.5%, while in case of FCYR, those for three kinds of yam and rice were estimated to increased about 64.7, 74.7, 52.8, and 32.3%, respectively. Total polyphenol contents of non-FCYR were estimated to 196.9, 265.7, 160.1, and 91.6 mg/kg, while total polyphenol contents of FCYR were estimated to increase about 530.7, 708.3, 427.2, and 265.9 mg/kg, respectively. Total flavonoid contents of FCYR increased to 2.8-3.3 times higher than those of non-FCYR. Reducing power of non-FCYR was about 0.97, 1.28, 0.64, and 0.17 (OD at 700 nm), while, that of FCYR increased about 1.75, 2.38, 1.24, and 0.46. Remakable increase in monacolin K productivity of FCYR was observed. Monacolin K productivity of FCYR was estimated to 467.1, 514.8, 339.2, and 272.5 mg/kg, respectively. In this study, fermented chinese yam (Dioscorea batatas) was estimated to be effective biological activity material.