Endoglucanase and lipase showed good deinking efficiency for waste papers. The performances could be greatly improved further by the combined use of the two enzymes. To reduce the enzyme production cost and enhance synergistic action of endoglucanase and lipase on laser-printed paper and newspaper, a chimeric enzyme with endoglucanase and lipase activity was constructed and expressed in Pichia pastoris. The data indicated that the chimera Lip-EG1CD improved the ink removal efficiencies and sheet brightness better than a single enzyme or a mixture of two enzymes. The chimera Lip-EG1CD demonstrated an 89% removal of toner on both papers and 91% ISO and 60% ISO sheet brightness for laser-printed paper and newspaper, respectively. Handsheet strength was also clearly improved. It revealed that the combined deinking of endoglucanase and lipase on waste papers could be strengthened by constructing proper chimera due to intramolecular synergistic action. This would be useful for developing an economical process for waste paper recycling.