Monoculture and mixed cultures of microalgae and the oleaginous yeast for microbial oil productions were investigated using sugarcane juice as carbon substrate. The monoculture of yeast Torulaspora maleeae Y30, Torulaspora globosa YU5/2 grew faster than that of microalgae Chlorella sp. KKU-S2. In monoculture of T. maleeae Y30, a biomass of 8.267g/L with lipid yield of 0.920g/L were obtained, while 8.333g/L of biomass with lipid yield of 1.141g/L were obtained for monoculture of T. globosa YU5/2. A biomass of 1.933g/L with lipid yield of 0.052g/L was found for monoculture of Chlorella sp. KKU-S2. The biomass concentration in the mixed culture of the oleaginous yeast with microalgae increased faster and was higher compared with that in the monocultures. A biomass of 8.733g/L with lipid yield of 1.564g/L was obtained for a mixed culture of T. maleeae Y30 with Chlorella sp. KKU-S2, while 8.010g/L of biomass with lipid yield of 2.424g/L was found for mixed culture of T. globosa YU5/2 with Chlorella sp. KKU-S2. Maximum cell yield coefficient (YX/S, g/L) was found of 0.323 in monoculture of Chlorella sp. KKU-S2 but low level of both specific yield of lipid (YP/X, g lipid/g cells) of 0.027 and volumetric lipid production rate (QP, g/L/d) of 0.003 were observed. While, maximum YP/X (0.303), QP (0.105) and maximum process product yield (YP/S, 0.061) were obtained in mixed culture of T. globosa YU5/2 with Chlorella sp. KKU-S2. The results obtained from the study shows that mixed culture of yeast with microalgae is a desirable cultivation process for microbial oil production.