Energy security has become a serious global issue and a lot of research is being carried out to look for economically viable and environment-friendly alternatives. The only solution that appears to meet futuristic needs is the use of renewable energy. Although various forms of renewable energy are being currently used, the prospects of producing carbonneutral biofuels from microalgae appear bright because of their unique features such as suitability of growing in open ponds required for production of a commodity product, high CO 2 -sequestering capability, and ability to grow in wastewater/seawater/brackish water and high-lipid productivity. The major process constraint in microalgal biofuel technology is the cost-effective and efficient extraction of lipids. The objective of this article is to provide a comprehensive review on various methods of lipid extraction from microalgae available, to date, as well as to discuss their advantages and disadvantages. The article covers all areas of lipid extraction procedures including solvent extraction procedures, mechanical approaches, and solvent-free procedures apart from some of the latest extraction technologies. Further research is required in this area for successful implementation of this technology at the production scale.