Lipase is absorbed on a carrier to provide an immobilized lipase preparation containing 0.5 to 8% water by a process that does not require drying. The process is carried out by providing a solution or dispersion of lipase in a liquid solvent, mixing the solution or dispersion of lipase with a carrier to provide a mixture containing 0.5 to 8% water and kneading the mixture to produce the immobilized lipase preparation. The solution or dispersion of lipase may contain an enzyme activity enhancing agent such as a fatty acid or its derivative such as lecithin. By not drying, an immobilized lipase preparation having higher activity is obtained.