Marine actinomycetes producing lipase and other industrial enzymes were isolated from Bay of Bengal near Chirala coast of Andhra Pradesh and identified as Streptomyces fungicidicusstrain RPBS-A4. Disposed marine waste such as fish, shrimp and crab were collected and extracellular lipase production was investigated in submerged fermentation. The impact of various process parameters were examined for increasing lipase production. Lipase obtained was partially purified using ammonium sulphate precipitation (80% w/v) followed by dialysis. Biochemical and physical properties of the purified enzyme was investigated. Lipase obtained was checked for its detergent additive capacity with various commercial detergents. Thus, in brief it can be summarized that the supplementation of lipase obtained from S.fungicidicus RPBS-A4 in detergent could significantly improve the cleansing of the greasy stains (used motor oil) and may serve as a potential candidate to use as a detergent additive for washing.