The use of cellulosic wastes for production of second generation ethanol by enzymatic route has been intensively investigated. In this paper, we studied saccharification of waste paper by fungal enzymes obtained from solid-state cultivation. The waste paper was submitted to physical and chemical pre-treatments. Saccharification tests followed a factorial 2² experimental design, with variables: volume of enzyme (4 and 8 mL of extract per 0,5 g of paper) and time of hydrolysis (8 and 24 h). The response was the quantity of total reducing sugars (TRS) released. Acid pre-treatment provided higher release of TRS (up to 37 mg TRS per gram of paper). In average, there was non-significant difference among the pre-treatments. The time of hydrolysis influenced significantly only the TRS releasing from paper subjected to heating; the volume of enzymatic extract influenced TRS releasing from paper subjected to acid pre-treatment. Optimal conditions were chosen as following: paper in natura, volume 4 mL of enzymatic extract and 8 h of hydrolysis, aiming to save energy, enzyme and reactants.