The cost and composition of the nutrient medium are considered limiting factors for the production of bacterial inocula. At the same time, baker's yeast factories get rid of their liquid wastes in River Nile or water drains. The analysis of such wastes indicated their richness in various minerals, amino acids, vitamins and yeast cells. The recommended media used for Azotobacter vinelandii, Azospirillum brasilense, Bacillus polymyxa, Klebsiella pneumoniae and auxin over-producing mutant (Azospirillum brasilense FT) were compared with optimized yeast liquid waste (OYW) in respect to the production of both bacterial inocula and phytohormones. Data showed that Klebsiella pneumoniae and Azospirillum brasilense FT grew well in the optimized yeast liquid waste medium compared to other diazotrophs. It was also found that Azospirillum brasilense FT mutant produced high quantities of extracellular indoleacetic acid (IAA) and tryptophol (TOL) in both recommended medium and the optimized yeast liquid waste medium. The production of both compounds was increased at the stationary phase of the culture. These data suggested that, optimized yeast liquid waste could be used as an alternative medium for biomass and phytohormones production of associative diazotrophs.