The fumigant activity of volatiles generated by Streptomyces alboflavus TD-1 against Fusarium moniliforme Sheldon was investigated. The results showed that the mycelial growth, sporulation, and spore germination of F. moniliforme were significantly suppressed, and that membrane permeability was disrupted in the presence of the volatiles. Gas chromatography-mass Spectrometry analysis revealed 31 kinds of volatile organic compound from the volatiles. Among them, two earthy-smelling substances, namely, 2-methylisoborneol (50.97%) and trans-1,10-dimethyl-trans-9-decalinol (3.10%) were found. The most abundant compound, 2-methylisoborneol, exhibited inhibitory activity against F. moniliforme by fumigation. All these results suggested that S. alboflavus TD-1 can be a promising starter for the inhibition of F. moniliforme through fumigant action.