This invention relates to a method for producing a lactone comprising culturing Candida sorbophila in a medium containing at least one selected from the group consisting of a hydroxy fatty acid, a hydroxy fatty acid derivative, and a hydrolysate of a hydroxy fatty acid derivative and recovering the produced lactone from the medium. This invention also relates to a method for producing a lactone comprising culturing Candida sorbophila in a medium containing at least one selected from the group consisting of a hydroxy fatty acid, a hydroxy fatty acid derivative, and a hydrolysate of a hydroxy fatty acid derivative and lactonizing the lactone precursor hydroxy fatty acid produced in the medium.