We have observed peculiar Type IIn SN 2008fz since Oct. 9. The redshift of SN 2008fz was spectroscopically determined as z=0.133 (CBET 1533). We obtained as 16.7 mag in V-band. Assuming the redshift, we estimated the absolute magnitude as -22.1! Such an extremely luminous object may be similar to SN 2006gy. But the V-band light curve decline rate of SN 2008fz would be steeper than that of SN 2006gy. On the other hand, J-band light curve would be flat. In order to reveal the origin of the conspicuous luminosity, we should continue to observe.