Microalgae are emerging as an important renewable and sustainable source of high-value biomolecules having applications in food, cosmetics, pharmaceutical, agrochemicals and fuel industries. Deriving high-value biomolecules from micro-algae however faces numerous process and technological challenges. It is essential to develop innovative ways of intensifying processes used for valorising microalgae. Hydrodynamic cavitation (HC) offers an attractive platform for process intensification relevant to microalgae because of its scalability, ability to handle dense slurries, intense physicochemical effects, and low cost. Here we briefly review the overall processes involved in deriving high-value biomolecules from micro-algae. Opportunities for intensifying these processes and enhancing productivity of processing microalgae via HC are then identified and critically reviewed. The current state of the art and yet unresolved challenges are highlighted. An attempt is made to identify specific suggestions to help direct future research efforts. The review will be useful for researchers and practitioners aiming to harness HC for deriving high-value products from microalgae.