  This letter presents a search for the rare flavor-changing neutral current
process $B^{0}\rightarrow K^{\ast 0}\tau^{+}\tau^{-}$ using data taken with the
Belle detector at the KEKB asymmetric energy $e^{+}e^{-}$ collider. The
analysis is based on the entire $\Upsilon(4S)$ resonance data sample of 711
$\rm fb^{-1}$, corresponding to $772\times 10^{6} B \bar{B}$ pairs. In our
search we fully reconstruct the companion $B$ meson produced in the process
$e^{+}e^{-}\rightarrow\Upsilon(4S)\rightarrow B\bar{B}$ from its hadronic decay
modes, and look for the decay $B^{0}\rightarrow K^{\ast 0}\tau^{+}\tau^{-}$ in
the rest of the event. No evidence for a signal is found. We report an upper
limit on the branching fraction $\mathcal{B}({B^{0}\rightarrow K^{\ast
0}\tau^{+}\tau^{-}})<3.1\times 10^{-3}$ at 90\% confidence level. This is the
first direct limit on $\mathcal{B}({B^{0}\rightarrow K^{\ast
0}\tau^{+}\tau^{-}})$.
