The integration of oleaginous microalgae cultivation with high-value products is considered a low-cost approach for manufacturing algae-based biodiesel. The objective of this study was to investigate the potential of using Fe(II) to produce fatty acids and astaxanthin in mixotrophic Chromochloris zofingiensis. Fatty acid biosynthesis was less sensitive than astaxanthin formation to the changes in Fe2+ concentrations. However, the enhancement and inhibition of fatty acids formation were concomitant with an increase and a decrease in the production of astaxanthin, respectively. The highest contents of astaxanthin and total fatty acids were simultaneously obtained at 0.2 mM Fe2+ with the corresponding values of 2.2 mg g(-1) (i.e., 25.8 mg l(-1)) and 41.8 % dry weight (i.e., 5 g l(-1)).