Phenol, an aromatic organic compound with the molecular formula of C6H5OH, toxic to humans and all living things, is commonly found in waste water and sewage sludge. The study aimed at investigating the effect of some selected environmental factors on phenol degradation capability of three yeast strains isolated from the sediment samples of a pond collecting the wastewater from laboratories of College of Agriculture, Can Tho University. The investigation of the environmental factors including pH, temperature, salt concentration, protein source, and carbon source on degradation of phenol was carried out in the minimum salt medium containing 500 mg.L-1 phenol. The concentration of phenol in liquid medium was determined by colorimetric method with Folin - Clocalteu’s reagent at 758 nm. The results of the study showed that all three yeast isolates showed their high ability in phenol degradation under the following conditions including pH of the medium from 5 to 7, 30oC, and (NH4)2SO4 as nitrogen source for growing. They showed their high salinity tolerance up to to 1.5% NaCl. In short, the results indicated that these three yeast isolates have a high capacity in application to remediate phenol polluted soils and sediments.