Lysophosphatidylethanolamine (LPE) was synthesized from lysophosphatidylcholine (LPC) using phospholipase D (PLD) from Streptomyces KF932. The transphosphatidylation reaction was done in a buffer system. The product was analyzed by HPLC. The parameters examined were the effect of reaction temperature, time, pH of the buffer, $CaCl_2$ concentration and molar ratio of LPC to ethanolamine. The highest yield of LPE was obtained after 6 hr of reaction at 60℃, in a buffer of pH 6.0 and at molar ratio of LPC to ethanolamine of 1:20. Addition of $CaCl_2$ decreased the yield. The maximum yield of LPE was 12.3% (mol/mol).