This review discusses anaerobic production of methane, hydrogen, ethanol, butanol and electricity from microalgal biomass. The amenability of microalgal biomass to these bioenergy conversion processes is compared with other aquatic and terrestrial biomass sources. The highest energy yields (kJ g1 dry wt. microalgal biomass) reported in the literature have been 14.8 as ethanol, 14.4 as methane, 6.6 as butanol and 1.2 as hydrogen. The highest power density reported from microalgal biomass in microbial fuel cells has been 980 mW m2. Sequential production of different energy carriers increases attainable energy yields, but also increases investment and maintenance costs. Microalgal biomass is a promising feedstock for anaerobic energy conversion processes, especially for methanogenic digestion and ethanol fermenta- tion. The reviewed studies have mainly been based on laboratory scale experiments and thus scale-up of anaerobic utilization of microalgal biomass for production of energy carriers is now timely and required for cost-effectiveness comparisons.