This study investigated the endophytic fungi associated with Taxus chinensis growing in the Qinba Mountains. The strain LB-10 was found to produce taxol in vitro with a yield of 846.1 μg/L, detected by UV, HPLC, and HPLC-MS. The strain LB-10 was grouped into Metarhizium anisopliae based on the morphological traits and ITS sequencing.