The article reviews the potential of microalgae as a sustainable and renewable source of food, feed, and energy, highlighting their rapid growth rates, adaptability to non-arable land and non-potable water, and diverse bioproduct range. Despite their advantages, cost-effective biomass production remains a significant challenge. The review discusses various innovative approaches to overcome these barriers, including gene editing, synthetic promoters, mutagenesis, selective breeding, and metabolic engineering driven by transcription factors. These techniques aim to enhance microalgae's productivity and economic viability for bioproducts and biofuel production. The article also explores the role of transcription factors in metabolic pathways, particularly in lipid biosynthesis, and the use of computational and experimental methods to identify transcription factor binding sites (TFBSs) and understand their regulatory functions. Overall, the review underscores the importance of integrating these innovative tools into commercially valuable algae strains to fully realize the potential of microalgae in the future bioeconomy.The article reviews the potential of microalgae as a sustainable and renewable source of food, feed, and energy, highlighting their rapid growth rates, adaptability to non-arable land and non-potable water, and diverse bioproduct range. Despite their advantages, cost-effective biomass production remains a significant challenge. The review discusses various innovative approaches to overcome these barriers, including gene editing, synthetic promoters, mutagenesis, selective breeding, and metabolic engineering driven by transcription factors. These techniques aim to enhance microalgae's productivity and economic viability for bioproducts and biofuel production. The article also explores the role of transcription factors in metabolic pathways, particularly in lipid biosynthesis, and the use of computational and experimental methods to identify transcription factor binding sites (TFBSs) and understand their regulatory functions. Overall, the review underscores the importance of integrating these innovative tools into commercially valuable algae strains to fully realize the potential of microalgae in the future bioeconomy.