Cellobiose phosphorylase was purified 111-fold from a cell extract of Clostridium thermocellum ATCC 27405, with a yield of 31.4%, to electrophoretic and column chromatographic homogeneity. The molecular weight of the enzyme was estimated to be 150,000 by gel filtration and 85,000 by SDS-PAGE, suggesting that it consisted of two identical subunits. It was suggested by spectrophotometric and chemical analyse that the enzyme contained no pyridoxal phosphate. The enzyme was inactivated by N-ethylmaleimide and activated by dithiothreitol, indicating that the exposed thiol group(s) was important for the enzymatic activity. The enzyme could utilize, so far as examined, D-glucose, D-xylose, 2-deoxy-D-glucose, and D-mannose, as accepters of glucose in the synthetic reaction of disaccharides. The enzyme could to a low degree utilize D-arabinose and D-fucose, as accepters.