Β-glucans are polysaccharide macromolecules that can be found in the cell walls of molds, such as Rhizopus oryzae. They provide functional properties in food systems and have immunomodulatory activity, anticancer, and prebiotic effects; reduce triglycerides and cholesterol; and prevent obesity, among others benefits. Furthermore, potato starch production requires a large amount of water, which is usually discharged into the environment, creating problems in soils and bodies of water. The physical parameters to produce β-glucans were determined, liquid waste from potato starch processing was used and native Rhizopus oryzae was isolated and identified from cereal grains. The isolates grew quickly on the three types of agars used at 25 °C and 37 °C, and they did not grow at 45 °C. Rhizopus oryzae M10A1 produced the greatest amount of β-glucans after six days of culture at 30 °C, pH 6, a stirring rate of 150 rpm and a fermentation volume of 250 mL. By establishing the physical fermentation parameters and utilizing the liquid waste from potato starch, Rhizopus oryzae M10A1 yielded 397.50 mg/100 g of β-glucan was obtained.