THIS STUDY aims to investigate the recycling of agro-industrial wastes as sugarcane and beet molasses for ethanol production using many yeast isolates. Out of fifteen tested isolates of yeasts, seven isolates showed high ethanol production contributing more than or equal 7% from sugarcane molasses with productivity ranging between 1.45 and 1.78gL-1h-1. Interestingly, isolate Y17 was the highest ethanol producer (8.55%) and it was chosen for the further optimization experiments. Isolate Y17 was identified phenotypically and genotypically as Saccharomyces cerevisiae and then was deposited in the GenBank with accession number KP096551. There was a significant enhancement in the ethanol production (9.55%) using S. cerevisiae Y17 from sugarcane molasses fermentation at 18% sugar, 30°C and pH 4.5 for 96h incubation period. These results suggest that Saccharomyces cerevisiae Y17 may be subjected to genetic engineering improvement and used as a promising candidate for economical ethanol fermentation by utilization of sugarcane molasses as a renewable and low cost-effective substrate.