The invention relates to a serum free culture medium for in vitro maturation of bovine oocyte, belonging to the field of cytobiology, in particular to a serum free medium IVMBM-I for in vitro maturation of bovine oocyte, comprising a TCM199 medium, hormone for oocyte maturation and antibacterial agent, which is characterized in that: Sodium pyruvate, Taurine, Insulin, Selenium, BSA, HEPES, TGF-a, L-Glutamine and EGF are added, and the serum is not contained. The serum free culture medium for in vitro maturation of bovine oocyte has the advantages of avoiding the adverse effect of some components in the serum on the oocyte, exact quantification and good repeatability because the conventional serum is substituted by the added components, and that the function of the serum in the maturation process of the oocyte can be completely substituted by the added components is proved by the experiments of in vitro maturation, in vitro fertilization and in vitro development.