Effects of turbulent energy dissipation rate (increased from 1.28 × 10 −6 to 1.67 × 10 −5 m 2 s −3) on Scenedesmus obliquus biomass and lipid accumulation at different aeration rates (0.3, 0.6, 0.9, 1.2, and 1.5 L min −1) were investigated. The turbulent energy dissipation rate was calculated by CFD model simulation. When the turbulent energy dissipation rate increased to 7.30 × 10 −6 m 2 s −3 , the biomass and lipid productivity increased gradually, and finally reached their maximum values of 1.11 × 10 7 cells mL −1 and 16.0 mg L −1 day −1 , respectively. When it exceeded 7.30 × 10 −6 m 2 s −3 , the biomass and lipid productivity showed a decreasing trend. Therefore, the most favorable turbulent energy dissipation rate for S. obliquus growth and lipid accumulation was 7.30 × 10 −6 m 2 s −3 .