The yeast cell wall fraction comprising cell residues obtained by removing internal soluble components from enzyme-treated yeast, or cell residues obtained by treating the cell residues with acid solution and removing the acid solution-soluble components. By decolorizing the residues with a decolorizing agent, the decolorized yeast cell wall fractions to which excellent physical properties are added, are obtained without impairing the excellent properties of the yeast cell wall fractions before the decolorization. The decolorized yeast cell wall fractions of the present invention have a white color and retain the merit of the yeast cell wall fractions before the decolorization for the use as a coating agent. Further, excellent properties such as the mechanical properties of the yeast cell wall fractions being enhanced and the yeast odor being decreased, are added to the decolorized yeast cell wall fractions.