The symbiosis potential of microalgae and yeast is inherited with distinct advantages, providing an economical venue for their scale-up application. To assess the advantage of the mixed culture of microalgae Chlorella vulgaris and yeast Yarrowia lipolytica for treatment of liquid digestate of yeast industry (YILD) and cogeneration of biofuel feedstock, the cell growth characteristic, the nutrient removal efficiency, the energy storage potential of the mono, and mixed culture were investigated. The results indicated that the biomass concentration of the mixed culture (1.39-1.56g/L of 5 times dilution group and 1.23-1.53g/L of 10 times dilution group) was higher than those of mono cultures. The NH3-N and SO42- removal rates of the mixed culture were superior to mono cultures. Besides the higher lipid yield (0.073-0.154g/L of 5 times dilution group and 0.112-0.183g/L of 10 times dilution group), the higher yield of higher heating value (20.06-29.76kJ/L of 5 times dilution group and 21.83-29.85kJ/L of 10 times dilution group) was also obtained in the mixed culture. This study provides feasibility for remediation of YILD and cogeneration of biofuel feedstock using the mixed culture of microalgae and yeast.