Diatoms are very diverse and highly productive organisms, found in a wide variety of environments. This study aims to analyze the growth and lipid composition of Phaeodactylum tricornutum, cultured in an outdoor pilot-scale bubble column photobioreactor under natural conditions in Chile for biodiesel production. Results showed that P. tricornutum cultures reached their highest biomass concentration (0.96 ± 0.04 kg m −3) after 14 days of culturing, at the stationary phase, with a volumetric productivity of 0.13 kg m −3 d −1. Biomass samples showed a total lipid content of 9.08 ± 0.38 wt %. The fatty acid methyl ester analysis revealed a composition of 24.39% C16-C18 fatty acids, 42.34% saturated fatty acids, 21.91% monounsaturated fatty acids and 31.41% polyunsaturated fatty acids. These findings suggest that P. tricornutum oil can be used as an alternative raw material for the production of biodiesel capable of meeting international quality standards.