Single cell protein (SCP) is the first product of the fermentation process and has proven to be a good protein alternative. Food competition is becoming more intense as the world’s population continues to grow. Soon, SCP may be able to compensate for a protein deficit. Various global businesses are focusing on SCP production, and the scope of its application is expanding as time and knowledge increases. High quantities of SCP can be produced by microorganisms, such as algae, yeast, fungi and bacteria, due to their fast development rate and the significant level of protein in their chemical structure. Beside proteins, SCP contains carbohydrates, nucleic acids, lipids, minerals, vitamins and several important amino acids. SCP has been an effective substitute for more expensive protein sources such as fish and soybean products. In conclusion, SCP can easily replace traditional protein sources in human and animal feed without detrimental effects. Potential substrate candidates and optimization strategies for SCP production have been extensively studied. This review article focuses on the various aspects of SCP, from its production, using different substrates, player microorganisms and nutritional benefits, to its economic aspects.