This study was carried out to investigate the dietary effects of Monascus pilosus mycelial extract on obesity in high-fat with cholesterol-induced obese rat models. It was observed that M. pilosus mycelial extract contains 25.85±1.98 mg% of total monacolin K without citrinin by high-performance liquid chromatography (HPLC). The rats were randomly divided into 2 groups; normal control and a high-fat with cholesterol diet group. The high-fat with cholesterol diet group was fed a 5L79 diet with an added 15% lard and 1% cholesterol supplemented diet for 3 weeks for induction of obesity. After induction, obesity was confirmed by checking obesity indexes, the animals were divided into 4 groups (n=5); first, the normal control (NC), and then taken from the obese model of rats, a high-fat with cholesterol diet obesity control group (HF), 0.5% M. pilosus mycelial extract supplemented high-fat with cholesterol diet group (MPMs), 2% conjugated linoleic acid supplemented high-fat with cholesterol diet group (CLA) for 7 weeks. Body weight gains, obesity indexes, and body fat contents in the experimental groups (MPMs and CLA) were decreased compared with HF group. Feed Efficiency Ratio (FER) in MPMs was significantly lower than that of HF without change of feed intake. These results suggested that the anti-obesity effects of the M. pilosus mycelial extracts (MPMs) could prevent obesity induced by high-fat with cholesterol diet possibly via inhibition of lipid absorption.