Fossil fuels are the globally demanded component for vital processes such as transportation and industrial production. The negative impact of fossil fuel can be observed once it is burnt, while burning, it releases nitrogen oxides resulting in smog, acid rain, and greenhouse gas emissions. This has led to exploring fossil fuel substitutes as alternative fuel sources, opening up the possibility of several renewable sources. To mitigate current and potential dangers in the energy sector, a range of biofuel are generated from biomass as fossil fuel substitutes. Aquatic biomass has attracted much attention due to its use as a feedstock for third-generation biofuels. Microalgae are one of the source of aquatic biomass that produces biofuels due to its growth cycle and yield. The currently used techniques for the production of bio-crude oil need to be upgraded for the enhanced production. This book chapter discusses the sustainable production approaches for producing bio-crude oil using microalgae as algal biomass. It also discusses the upgradation of process of enhanced production.