Biotransformation is a chemical reaction performed by biological systems or their components to modify molecules and has many applications in the pharmaceutical industry. In our previous project, biotransformation studies were carried out on Astragalus cycloartanes using endophytic fungi isolated from the tissues of Astragalus species, and the effects of the metabolites on telomerase activation were investigated. Among the isolated endophytic fungi, Alternaria eureka and Camarosporium laburnicola were identified as potent biocatalysts in developing molecule libraries and producing potent telomerase activators. This thesis aims to demonstrate the potential use of endophytic fungi in the production of bioactive metabolites. In the first part, biotransformation studies were performed on cyclocephagenol, a novel cycloartane-type sapogenin with tetrahydropyran unit, using Alternaria eureka and Camarosporium laburnicola, and twenty-eight new metabolites were obtained. According to the results of bioactivity studies, Alternaria eureka and Camarosporium laburnicola were found to be responsible for producing potent neuroprotective agents and potent telomerase activators, respectively. In parallel, biotransformation conditions were statistically optimized to afford potential telomerase activators, discovered in our previous studies (E-CG-01, E-AG-01 and E-AG-02). For this, nine parameters were screened by Plackett-Burman Design, and three significant parameters were optimized using Central Composite Design. As a result, production yields were increased by 1.95-fold for E-CG-01, 70-fold for E-AG-01, and 19-fold for E-AG-02. In the last part, the partial purification and characterization of alcohol dehydrogenase, Baeyer-Villiger monooxygenase, and lactone hydrolase enzymes, which were catalyzing the modifications in the production of telomerase activators, from Camarosporium laburnicola were performed.