Entomopathogenic fungi perform important functions in the ecosystem as natural antagonists of insects, which can be used in agriculture. Interestingly, recent studies showed a significant promotion of tested plants growth in the presence of fungi. We hypothesize that some of various compounds produced by entomopathogenic fungi can positively affect plant development. To test this hypothesis, fungal extracts of entomopathogenic fungus Beauveria bassiana were prepared at different conditions of temperature and pH. In addition to determination of the ammonium nitrogen content, the composition of extracts was analyzed by elemental ICP-OES. Then, their effect on the wheat germ growth was studied using various extract concentrations. After experiments, tested plants were measured, weighed, and the chlorophyll content was determined. Finally, the impact of extracts on the selected G+ and G- bacteria growth was examined to exclude the possibility of interference with soil microorganisms. The highest length of the wheat shoot was obtained for the use of 10-times diluted extract (10%) at pH 10 obtained at 20°C. In contrast, addition of 10% extract (pH 10) obtained at 75°C resulted in the shortest shoot. Generally, the extracts obtained at 75°C showed phytotoxic properties leading to lower values of shoot length and fresh weight in comparison to the control group. Our preliminary results are the first confirming the potential of fungal water extracts as factors promoting plant growth. Further detailed study should be carried out to confirm the effects in real environment conditions. Also, the consistency of the plant growth stimulation across different entomopathogenic fungi, and agriculturally used plant species should be tested.