Microalgal biomass processing by continuous hydrothermal liquefaction (HTL) has recently received much interest and can be used to convert microalgal biomass to biocrude oil and drop‐in fuels. This review focuses on the conversion of microalgae biomass to energy production through continuous HTL processes. In addition, processes for upgrading feedstocks and biocrude are also discussed. The feed of the biomass slurry is treated according to size and moisture regulations. Following separation of the gaseous, liquid, and solid phases, the determination of elemental, physical, and chemical fragments, yield of energy, and other properties of the various products is carried out. Homogeneous or heterogeneous catalysts improve the biocrude yield and quality as does higher moisture content. The high percentage of N2 and O2 in the feedstock results in lower quality products. This may be resolved through pre‐processing of the biomass, controlling of HTL processes conditions, and post‐upgrading processing of the HTL products. The promising potential of microalgae biomass for biocrude and drop‐in fuels may have an important contribution to the world's renewable energy sources through HTL in the near future.