Microalgae can grow autotrophically with the supply of light, carbon dioxide and inorganic nutrients in water through photosynthesis. Generally, microalgal growth is limited by the concentrations and relative ratio of nitrogen (N) and phosphorus (P) among the nutrients in the aquatic environment. Each microalga has its specific optimum N : P ratio resulting in dominance in a particular water having similar nutrient composition. Algal bloom is an immense growth of certain microalga commonly cyanobacterium and can be sequestrated by reducing the limiting nutrient, generally P in the freshwater. Moreover, dominance of a less toxic blooming strain can be established by manipulating N : P ratio in the water. On the other hand, microalgal biomass of a certain species can be enhanced by increasing limiting nutrient and adjusting the N : P ratio to the target species. The above-mentioned eco-physiological features of microalgae can be more completely interpreted in connection with their genomic informations. Consequently, microalgal growth regulation which can be achieved on the basis of its eco-physiological and further genomic insights would be helpful not only in the control of algal bloom, but also for an increased yield of algal biomass.