Microalgae represent a sustainable source of natural products, and over 15,000 novel compounds originated from algal biomass have been identified. This chapter focuses on algae-derived lutein, a group of high-value products. Lutein belongs to carotenoids which have extensive applications in feed, food, nutraceutical, and pharmaceutical industries. The production of carotenoids has been one of the most successful activities in microalgal biotechnology. This chapter gives a mini review of microalgae-based lutein, where emphasis is placed on the biosynthetic pathway and the regulation of carotenogenesis.