Using Taiwan's Panel Study of Family Dynamics data, this paper investigates intergenerational social mobility and analyzes whether edu凶 cation can be an effective means for fostering social mobility. Empirical results find that father's social status affects an individual's educational attainment. Offspring whose father is in the upper class have a better chance of receiving higher education than those whose father is not. Moreover, education has a profound influence on social status. The higher the educational attainment 峙, especially for university and above, the greater the chance one will be in the upper-class. The education advantage confers for entry into the upper class does not vary among different cohorts. This implies that the upper-class may dominate education to preserve their social status. However, other things being equal, those with junior col1ege education but whose fathers are not in the upper-class tend to have a greater chance to be in the upper-class than those whose father is in the upper-class. Hence, education can still be an effective means to compensate for the disadvantage in one's father's social status. We also find that senior high school and junior college education confer the greatest chance to be in the middle class, which is conducive to social stability. Our results confirm that popularization of education is beneficial to intergenerational social mobility. Thus, equal opportunity to attain education and prevention of monopoly in education by the upper c1ass should be the u1timate goal of a government's educational policy,as it not only enhances one's earning capabi1ity but also fosters social mobi1ity.