The thermotolerant strain 1-IR was isolated as a contaminant microflora of the industrial strain “Red” (the Netherlands) during the study of the baker’s yeast Saccharomyces cerevisiae. The strain was assigned to the species Ogataea parapolymorpha by sequencing the 26S rDNA D1/D2 domain. The strain 1-IR was shown to be capable of efficient glucose and xylose fermentation at an elevated temperature of 45°C. In this respect, the strain 1-IR surpassed the thermotolerant yeasts O. polymorpha CBS 4732, NCYC 495, and O. parapolymorpha DL1. The prospects of using the O. parapolymorpha yeasts as producers of biofuel from lignocellulose wastes of agricultural and woodworking industries is discussed.