Dairy cattle treated wastewaters are potential resources for production of microalgae biofuels. A study was conducted to evaluate the capability of Arthrospira platensis cultivated in dairy farm wastewater for biodiesel production. The biomass of Arthrospira platensis was found to be 4.98 g L-1 and produced 30.23 wt% lipids to dry biomass cultivated in wastewater which was found nitrogen stressed in photo bioreactor. The extracted lipid displayed a suitable fatty acid profile for biodiesel, although the content of linolenic acid was found a little higher than the standard EN14214. It was found that nitrogen stressed medium increase the total lipid content but temperature and intensities of light were the most important factors to control the quantity of linolenic acid and hence the quality of biodiesel, while the optimum CO2 helped to achieve maximum biomass and triacylglycerols. The Arthrospira platensis offer a good option for the treatment of wastewater before final discharge.