NOVELTY - Making biofuels involves: (A) dewatering intact algal cells to make algal biomass; (B) extracting neutral lipids from biomass; (C) esterifying lipids by catalyst and alcohol; (D) separating water soluble glycerin fraction from water insoluble fuel ester fraction; (E) distilling fuel esters under vacuum to obtain less than or equal to 16 carbon containing fuel esters, greater than or equal to 16 carbon containing fuel esters, and carotenoids and omega-3 fatty acids residue; and (F) hydrogenating and deoxygenating less than or equal to 16 carbon containing fuel esters to jet fuel blend stock and greater than or equal to 16 carbon containing fuel esters to diesel blend stock.    USE - For making biofuels including jet fuel blend stock and diesel blend stock (claimed).    ADVANTAGE - The method provides improved method for extracting and fractionating algal products, particularly oils useful as biofuels; as compared to the prior art methods, which involve multiphase extractions that require extensive distillations, use of complex solvent mixtures, and necessitate mechanisms for solvent recovery and recycle. This makes such extractions impractical and uneconomical for use in algal oil technologies. The method utilizes step extraction and fractionation with slightly nonpolar solvent to process wet algal biomass. The method is non-disruptive extraction and results in over 90% recovery. The small amount of polar lipids in algal biomass that is remaining enhances its value when the remaining biomass is used for feed. This is due, at least in part, to the high long chain unsaturated fatty acid content of biomass. In addition, obtained ethanol extracts can further be directly trans-esterified. Furthermore, unlike existing conventional methods, the method is generic for any algae, and also enables recovery of significant portion of valuable polar lipids in algae by use of water miscible organic solvent gradient. The neutral lipid fraction obtained by the method possesses low metal content, enhances stability of lipid fraction, and reduces subsequent processing steps. Metals tend to make neutral lipids unstable due to their ability to catalyze oxidation. Further, metals inhibit hydrotreating catalysts, and necessitate their removal before neutral lipid mixture can be refined. The method also allows for extraction of metals in protein and/or polar lipid fractions. This is advantageous because proteins and polar lipids are not highly affected by metal exposure, and in some cases are actually stabilized by metals. The method can start with wet biomass, and reduces drying and dewatering costs. The recovery/extraction process can be done on wet biomass, which is major economic advantage, as it avoids use of large amounts of energy required to dry and disrupt cells. Extraction of neutral lipids from dry algal biomass is far more effective. The yields obtained are significantly higher and purer than those obtained by conventional extractions. This is because conventional extraction frequently results in emulsions, rendering component separations extremely difficult. Compared to conventional extraction processes, the extraction and fractionation processes have relatively low operating costs due to moderate temperature and pressure conditions, along with solvent recycle. Furthermore, conventional extraction processes are cost prohibitive and cannot meet the demand of market. Further, the method has ability to accomplish preliminary refining, which is separation of polar lipids from neutral lipids during extraction process. The differences between algal oil and vegetable oils used in previous embodiments include percentage of individual classes of lipids. The method is further useful for extracting co-products of lipids from oleaginous material e.g. proteinaceous material, chlorophyll, and carotenoids; and allows for simultaneous extraction and fractionation of algal products from algal biomass in a manner that allows for production of both fuels and nutritional products.