Fine-tuning of lipogenic gene expression is important for the maintenance of long-term homeostasis of the intracellular lipids. The SREBP family of transcription factors are master regulators that control the transcription of lipogenic and cholesterogenic genes, but the mechanisms modulating SREBP-dependent transcription are still not fully understood. We previously reported that CDK8, a subunit of the transcription cofactor Mediator complex, phosphorylates SREBP at a conserved Thr residue. Here, using Drosophila as a model system, we show that the phosphodeficient SREBP proteins (dSREBP-Thr390Ala) are more stable and more potent in stimulating the expression of lipogenic genes and promoting lipogenesis in vivo than wild-type dSREBP. In addition, starvation blocks the effects of wild-type dSREBP-induced lipogenic gene transcription, while phosphodeficient dSREBP is resistant to this effect. Furthermore, our biochemical analyses have identified six highly conserved amino acid residues in the N-terminus disordered region of dSREBP that are required for its interactions with both CDK8 and the Med15 subunit of the small Mediator complex. These results support that the concerted actions of CDK8 and Med15 are essential for the tight regulation of SREBP-dependent transcription.