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For efficient bioconversion of lignocellulosic materials to bioethanol, the study screened 19 white-rot fungal strains for theirendocellulolytic activity and saccharification potential. Preliminary qualitative and quantitative screening revealedCotylidiapannosato be the most efficient endocellulase producing fungal strain when compared to the standard strain ofTrichodermareeseiMTCC 164. Ensuing initial screening, the production of endocellulase was further optimized using submerged fermen-tation to recognize process parameters such as temperature, time, agitation pH, and supplementation of salts in media required forachieving maximum production of endocellulase. The strainC. pannosaproduced the maximum amount of endocellulase(8.48 U/mL) under submerged fermentation with wheat bran (2%) supplemented yeast extract peptone dextrose (YEPD) mediumafter an incubation time of 56 h at 30 °C and pH 5.0 at an agitation rate of 120 rpm with a saccharification value of 50.5%. Thefermentation of wheat bran hydrolysate withSaccharomyces cerevisiaeMTCC 174 produced 4.12 g/L of bioethanol after 56 h ofincubation at 30 °C. The results obtained from the present investigation establish the potential of white-rot fungusC. pannosaforhydrolysis and saccharification of wheat bran to yield fermentable sugars for their subsequent conversion to bioethanol, sug-gesting its application in efficient bioprocessing of lignocellulosic wastes