This study evaluated the anti-adipogenic effects and mechanisms underlying the action of Lactobacillus fermentum MG4231 and MG4244 strains on adipogenesis and lipid accumulation in 3T3-L1 preadipocytes. Treatment with cell-free extracts (CFEs) from the two strains reduced lipid accumulation and intracellular triglyceride production in 3T3-L1 adipocytes by more than 50%. The inhibitory effects of L. fermentum on lipid accumulation were mediated by the downregulation of FAS and aP2 resulting from the inhibition of PPARγ and C/EBPα gene expression. Moreover, AMPK and HSL phosphorylation was upregulated by CFE treatment. These results indicated that the anti-adipogenic and lipolysis activities of L. fermentum strains were caused by increased AMPK and HSL phosphorylation. Both strains displayed high leucine arylamidase and β-galactosidase enzymatic activity, with excellent adhesion to epithelial cells. Therefore, we identified L. fermentum as potential new probiotics for the prevention of obesity.