Three underground trenches with the capacity of 6 tons (2 tons each) were used for making silage from banana wastes. Rice straw was added to banana wastes at the rate of 1:2, while molasses was added at the rate of 5%. The first silage (T2) was made without any additive. In the second silage (T3), urea was added at the rate of 3%, while in the third silage (T4), EM1 (biological treatment) was added at the rate of 1%. Whereas T1 was a control. The rations were ad libitum of silage, while concentrate feed mixture consisted 70% from the requirements. Twenty lambs (cross breed Finnish rams, Finnish x Rahmani) having 4 months of age and averaging 22 + 0.5 Kg live body weight were used in this experiment. Lambs were divided into four similar groups according to their live body weight (5 animals in each). The results indicated significant (P < 0.05) differences in daily bodyweight gain between (T2 and T4) and (T1 and T2), being (111.94 and 145.37) and (164.72 and 111.94 g/h/d), respectively; yet, insignificant (P > 0.05) differences were found between (T3 and T4) and (T2 and T3), being (131.11 and 145.37) and (111.94 and 131.11 g/h/d), respectively. The T4 showed more feed intake compared to T3 and T2, being 189.45, 183.87 and 174.29 kg, respectively, and significant (P < 0.05) differences were found between (T2 and T4 ) and ( T1 and T2 ), being (174.29 and 189.45) and 199.94 and 174.29 kg), respectively, but insignificant (P < 0.05) differences were found between (T2 and T3) and (T3 and T4), being (174.29 and 183.87) and (183.87 and 189.45 kg), respectively. Concerning feed conversion, there were no significant differences among T1, T3 and T4 and among T2, T3 and T4, being 6.8, 7.87 & 7.33 and 8.78, 7.87 & 7.33, respectively, but significant difference (P < 0.05) was found between T1 and T2, being 6.8 and 8.78, respectively. Blood analysis showed no significant differences among treatments in red blood corpuscles count; yet, there were significant differences in hemoglobin, hematocrit value (%), and white blood cells count among treatments. Moreover, no significant differences were recorded among treatments in globulin, A/G ration, AST, ALT urea nitrogen and creatinine. But significant differences (P < 0.05) were given among treatments in total protein, albumin and Alk-P-ase. Economic evaluation reflected significant differences (P < 0.05) between T1 and T2 (216 and 201%), T1 and T4 (216 and 239%), T2 and T3 (201 and 222%) and T3 and T4 (222 and 239%). From the foregoing results it could be concluded that EM1 as an additive for making silage of banana waste was effective and costly from the view point of economy, even concerning feed conversion which was statistically similar to the control. So, it to recommend using banana waste silage with EM1 (or urea) in feeding ruminants without any harm effects on growth performance, feed utilization and animal health, but to overcome, to some extent, the gap in animal feed stuffs by introducing banana waste silage as a novel feed resource in the economical animal production.