Microbial lipid and bio-ethanol were co-generated by an integrated process using corn cob bagasse as raw material. After pretreatment, the acid hydrolysate was used as substrate for microbial lipid fermentation, while the solid residue was further enzymatic hydrolysis for bio-ethanol production. The effect of acid loading and pretreatment time on microbial lipid and ethanol production were evaluated. Under the optimized condition for ethanol production, similar to 131.3 g of ethanol and similar to 11.5 g of microbial lipid were co-generated from 1 kg raw material. On this condition, similar to 71.6% of the overall fermentable sugars in corn cob bagasse could be converted into valuable products. At the same time, at least 33% of the initial COD in the acid hydrolysate was depredated. (C) 2016 Elsevier Ltd. All rights reserved.