A freshwater microalga, Chlamydomonas reinhardtii KNUA021, was characterized for its potential as a biochemical feedstock. Its optimal growth was observed when the culture was incubated at $25^{circ}C$ and pH 9.4. However, the isolate was capable of survival and growth under a variety of temperatures (10-$30^{circ}C$) and pH (pH 4.0-12.0) conditions. The total lipid content of the isolate was 21.7% of dry weight and it was found that a high-value fatty alcohol, hexadecenol ($C_{20}H_{40}O$), was autotrophically produced by strain KNUA021. In addition, a nutritionally important $C_{18:3}{omega}3$ (${alpha}$-linolenic acid, ALA) was also identified in this photosynthetic microorganism as one of the major fatty acids. Hence, C. reinhardtii KNUA021 appears to show promise for use in the production of microalgae-based biochemicals.