The biodiesel industry is gaining interest in the past years due to the depletion of the easily extracted petroleum, the increasing demand to the automotive market, and the environmental damage. It is acknowledged that the main obstacle to biodiesel marketing is the cost of production, which is mostly due to the price of the raw material (usually vegetable oils). In this way, the goal is to provide low-cost raw materials. This may be achieved by feedstocks that do not require arable land, do not depend on growing seasons, and that give added value to waste, helping also to its recycling. In this way, oleaginous organisms may be considered an alternative feedstock for the biodiesel industry, as they meet all the previous requirements. This chapter presents the state of the art and the main characteristics of the oil and biodiesel provided by macroorganism (insects) and microorganism (bacteria, filamentous fungi, and yeasts).