Phycocyanin (PC) is a bluish, naturally edible pigment with numerous health benefits. It is a major light-harvesting pigment. It is a soluble in water, pigmented protein derived from microalgae that possesses anti-inflammatory, antioxidant, hepatoprotective, and neuroprotective properties. Arthrospira platensis is a phototrophic organism that naturally contains the pigment phycocyanin. It is regarded as an entirely organic biofactory for phycocyanin production, and while appropriate culture conditions can increase pigmentation material, the necessity of extraction as well as purification should not be disregarded since the compounds used in those procedures can impact the overall quality of phycocyanin. Spirulina is a broad commercial term for multicellular, filamentous, blue-green microalgae, most notably referring to species of the genus Arthrospira, such as Arthrospira platensis. Although historically grouped with Spirulina, modern taxonomy classifies them separately Six distinct extraction procedures, namely physical (freezing and thawing, sonication, homogenization), chemical (organic and inorganic acid treatment), and enzymatic have been discussed. The freeze-thawing approach and ultrasonication method can be adopted for extraction of the C-PC contents from cyanobacteria. The downstream steps are necessary to extract this biological molecule from microalgal cell biomass. The field of nanotechnology holds potential for future opportunities. To improve the economic viability of Spirulina based phycocyanin production, this chapter investigates a cost-effective procedure for extracting phycocyanin (PC) from Spirulina platensis.