A process for producing fatty acid esters of fructose including the steps of (a) culturing a fructose-utilizing microorganism capable of producing fatty acid esters of fructose and belonging to the genus Arthrobacter, Corynebacterium, Nocardia or Mycobacterium in a medium containing fructose as a carbon source, (b) forming the fatty acid esters of fructose intracellularly and (c) recovering the esters from the microbial cells.