NOVELTY - Producing a high calorie fermented product from an organic waste through aerobic fermentation, involves supplying an aerobic thermophilic bacterium and organic waste and fermenting organic waste under aerobic conditions, passing a hot air stream during fermentation, circulating a portion of an exhaust gas, which is discharged by the air circulation, into fermentation/drying tank, and again returning the waste heat to fermentation/drying tank, releasing into the atmosphere the exhaust gas which is discharged by the air circulation, and terminating the fermentation.    USE - The method is useful for producing a high calorie fermented product from an organic waste having high moisture content through aerobic fermentation. The organic waste is foodstuff waste material, agricultural waste material, livestock farming waste material, fishery waste material, wastewater treatment sludge, and excrement (claimed). The high calorie fermented product includes dry feed, fuel or primary fermented compost.    ADVANTAGE - Organic waste with high moisture content is fermented with an aerobic thermophilic bacterium and dried, without using a subsidiary material for controlling moisture content such as sawdust or rice hulls, to produce a high calorie fermented product.    DETAILED DESCRIPTION - Method for producing a high calorie fermented product from an organic waste through aerobic fermentation, involves (a) supplying an aerobic thermophilic bacterium and the organic waste into an almost sealable fermentation/drying tank and fermenting the organic waste under aerobic conditions, (b) passing a hot air stream through the fermentation/drying tank during the fermentation to supply oxygen, (c) circulating a portion of an exhaust gas, which is discharged by the air circulation, into the fermentation/drying tank, thus supplying oxygen and, at the same time, returning the waste heat to the fermentation/drying tank again, (d) releasing into the atmosphere the exhaust gas which is discharged by the air circulation, and (e) terminating the fermentation before the organic waste is completely fermented to give a dry fermented product.