<p>This review explores the potential of microalgae as a sustainable feed ingredient for shrimp cultivation. Microalgae, used as nutritional supplements, offer several advantages as protein sources, including rich nutrient profiles and bioactive compounds. As shrimp production in the aquaculture sector grows and infectious diseases become more prevalent, microalgae can serve as a safe feed additive and an alternative to antibiotic overuse. This report reviews the prominent microalgae species used as feed ingredients for shrimp, examining their nutritional value, as they are widely utilized in the aquaculture industry. The focus is on the potential of microalgae as a substitute for fishmeal and fish oil in shrimp feed within a circular bioeconomic approach. Additionally, it examines how the inclusion of dietary microalgae influences shrimp growth performance, feed conversion efficiency, antioxidant activity, immune response, and disease resistance. The review also emphasizes the use of microalgae to improve water quality in shrimp culture systems. Furthermore, it aims to demonstrate effective methods of delivering vaccines to shrimp via transgenic microalgae, especially through oral vaccination, to combat pathogens. Overall, this comprehensive review provides an overview of current applications and prospects of microalgae as a sustainable feed ingredient to enhance shrimp aquaculture productivity and sustainability.</p>