Many studies have demonstrated that the global demand for renewable biofuels, natural food pigments, and antioxidants has made microalgae a more attractive alternative resource. The application of supercritical fluid extraction (SFE) on the valuable compounds recovery from microalgal biomass has several advantages as compared to the conventional organic solvent extraction methods, especially for environmental considerations. This review presents comprehensive information on the current state of using SFE to recover valuable components from microalgal biomass, such as total lipids, long chain fatty acid and pigments, as well as the utilization and characteristics of the SFE technology. In addition, key factors and challenges that should be addressed during the application of SFE technology are also discussed. This report provides a useful guide that can aid in the future development of more efficient microalgae-based biorefinery process. (C) 2014 Elsevier Ltd. All rights reserved.