The CO2 sequestration by microalgae is thought to be one of the most sustainable strategies to relieve global warming. To produce 1 ton of microalgal dry biomass, 2 ton of CO2 is required. However, insufficient supply of CO2 will limit microalgal growth, and excessive CO2 both means wasting and inhibits microalgal growth. In the present study, the dissolved CO2 concentration in culture limiting and inhibiting microalgal growth (Chlorella vulgaris) in a bubble column photobioreactor was studied. The experimental results showed that the dissolved CO2 concentration ranging from 107μmol/L to 1500 μmol/L could meet microalgal growth’s need, which provides the guidance for microalgal CO2 biofixation with high efficiency.