In past few years the novel potential of utilizing microbes as biotechnological sources of enzymes of industrially important has encouraged improved attention in the investigation of extracellular enzymatic activity in numerous microbes. Commercial enzymes are generally extracted from microorganisms because of their biochemical and physiological properties, easy cultivation at large scale and easy genetic manipulation for improved productivity. Starch degrading enzymes such as amylase have received huge consideration due to their noticeable technological importance and economic advantages. Celluloses are observed as the most important renewable resource for bioconversion and cellulose is usually hydrolyzed cellulase enzyme. Proteases are the imperative industrial enzymes and cover about 25% of global commercial enzymes. Lipases are utilized in the modification of oils and fats, detergents, food processing, synthesis of pharmaceuticals and fine chemicals, manufacturing of paper and synthesis of pharmaceuticals and cosmetics, brewing, bakery, biofuels and processing of leather. These extracellular enzymes are manufactured by numerous microorganisms, usually by bacteria and fungi. Therefore present review deals with the screening of hydrolytic enzyme producers.