This paper reports the results of supercritical carbon dioxide (scCO2) extraction of β-carotene from Dunaliella salina as potential alternative to conventional organic solvent extraction. In pilot-scale scCO2 experiments, the pressure, temperature, and co-solvent concentration were varied. The supercritical extraction at 500 bar, 70 °C, and 10 wt% ethanol as co-solvent yielded in the highly efficient pigment recovery of over 90%. Techno-economic assessment demonstrated higher energy consumption for the scCO2 extraction that was compensated by lower solvent costs. Thus, comparable pigment production costs to the reference extraction with n-hexane were estimated for the scCO2 process. Due to the green solvent properties of scCO2 and ethanol, this approach is highly promising for extraction of algal biomass in industrial scale.