Experimental and theoretical studies on three-phase hollow fiber bioreactor were performed using an asymmetric hollow fiber in which glucose oxidase was entrapped in the porous sponge region and silicone coating was applied on top of that. Oxygen limitation has been confirmed by theory and experiment when the glucose concentration was above 75mM. The measured effectiveness factor was lower by 15-25% than the predicted one, which may be attributed to the deactivation of the enzyme upon immobilization. The theoretical and experimental values were in good agreement within error limits of 15-25%.