Microalgae can be considered as significant sources of sustainable and beneficial biocompounds such as carotenoids, lipids, proteins, polysaccharides, pigments, vitamins etc., with many uses in energy production (biofuels), pharmaceutical, cosmetic and food industries. This class of microorganisms are considered as sustainable feedstock due to some major advantages related to metabolism modulation, faster growth rate compared to plants, no use of terrestrial land. This review will present the most important bioactive compounds founded in microalgae, with high potential impact in industry and the technologies used for cultivation and downstream processes.