Amylases are omnipresent and exceedingly demanded industrial enzymes. In this study, the conditions of extracellular amylase production from a fungal strain A. tubingensis SY1 were statistically optimized by applying Plackett-Burman equation, under submerged fermentation conditions. Maximum enzyme activity was noted in a medium containing (G/L); Starch (5.0), Peptone (10.0), KH2PO4 (2.0), NH4NO3 (3.0), KCl (1.0), MgSO4.7H2O (1.0), FeSO4.7H2O (0.01), Agitation (200 rpm) with an inoculum size 1%. As witnessed from Pareto chart; variables that were most important for amylase production were Peptone, agitation; MgSO4.7H2O followed by inoculum size. Partial characterization of the crude enzyme revealed that the optimum temperature and pH for enzyme activity was 60o C and 5.6, respectively. The residual activity of the enzyme was reduced to 50% after storage for ~3h at 44°- 64°C. The enzyme was, however, stable at a pH range of 3.6 - 5.6 for up to 3h.