A new process for recovering high purity natamycin from fermentation broth containing natamycin comprises the steps of adjusting the pH of the broth to above about 10 and adding an amount of a water-miscible solvent, such as isopropanol, sufficient to dissolve the natamycin in the broth, followed by removing insoluble solids from the pH-adjusted broth, followed by lowering the pH of the broth to a level sufficient to precipitate the natamycin, and removing the natamycin from the broth.