The microalgae are presented as one of the most promising sources of raw materials. They have special properties which make them suitable for bio-technical applications. In the past decade, increasing microalgae research has focused on phytohormones studies. Thus, the utilization of microalgae as possible biofertilizers, biostimulants, and biopesticides is therefore explored in this paper. It also details the phytohormone’s uses and the possibilities of increasing microalgae biomass through them. The impact of phytohormones on primary and secondary metabolites. Moreover, the results of the present review suggest that refocusing the target of microalgal research from biofertilizer manufacturing to even more significant biorefinery co-products can serve to help support their sustainability as a valuable resource. In addition, cooperative innovation should be promoted to reduce the high investment in microalgae biomass utilization. This review is expected to contribute to the development of a roadmap to the potential role of microalgae in future biorefinery industries.