Abstract: Disclosed is a method of extracting fatty acid methyl esters as the main component of biodiesel from microalgae and producing biodiesel using the extracts. The method includes a process of extracting vegetable oil including triglyceride from microalgae; a process of adding a catalyst-containing alcohol to the extracted vegetable oil and transesterifying the oil while slowly heating the solution to a suitable temperature; a process of, after the completion of the transesterification, cooling the reaction product so as to be separated into crude biodiesel and the byproduct glycerol; a process of separating and washing the upper crude biodiesel layer; and a process of performing gas chromatography to analyze the content and yield of the washed biodiesel. A process for production of microalgae-derived biodiesel is provided and the process is very useful for producing microalgae-derived biodiesel that is more cost-effective than plant-derived biodiesel.