The global food crisis has led to a great deal of attention being given to microalgal oil as a sustainable natural food source. This article provides an overview of the progress and future directions in promoting the commercialization of microalgal edible oils, including microalgal triglyceride accumulation, suitable edible oil culture strategies for high nutritional value, metabolic engineering, production, and downstream technologies. The integration of the production process, biosafety, and the economic sustainability of microalgal oil production are analyzed for their critical roles in the commercialization of microalgal edible oil to provide a theoretical and scientific basis for the comprehensive development and utilization of microalgal edible oil.