Abstract: The present invention relates to a novel method for producing astaxanthin by using microalgae. The method comprises: heterotrophic cultivation of microalgae, dilution, photo-induction, collection of microalgal cells, and extraction of astaxanthin. The method according to the present invention takes full advantages of rapid growth rate in the heterotrophic stage and fast accumulation of astaxanthin in the photo-induction stage by using a large amount of microalgal cells obtained in the heterotrophic cultivation stage, so as to greatly improve the astaxanthin production rate and thereby achieve low cost, high efficiency, large scale production of astaxanthin by using microalgae. The method not only provides an important technical means to address the large scale industrial production of astaxanthin through microalgae but also ensures an ample source of raw material for the widespread utilization of astaxanthin.