Abstract The paper provides a review of reports in the field of microalgae biomass conversion to various types of biofuels (fatty acid methyl esters, ethanol, butanol, hydrogen) and marketable chemicals, in particular, polyunsaturated fatty acids, pigments, and proteins, using modern chemical and biotechnological approaches. This review addresses the synthesis of products using various strategies applied to develop modern approaches to the integrated biorefinery of microalgae biomass.