The demand of biodiesel that is a renewable, alternative fuel for fossil-based petrodiesel seems to keep increasing. Exploiting lipids of microalgae as a raw material for biodiesel is already technically feasible. To realize economical production of microalgal biodiesel, several factors or strategies should be addressed and improved. Especially, researches on improvement of lipid synthesis by genetic or metabolic engineering are now in early stage, and prospects of this field are bright, requiring concerns and interests of many researchers to put practical use of microalgal biodiesel forward.