In this study, feasibility of Chlorella vulgaris cultivation in pulp wastewater (PWW) diluted with lake water (LW) and aquaculture wastewater (AWW) was investigated. The best ratios of PWW and AWW (PAWW) viz., 80% PWW:20% AWW and 60% PWW:40% AWW were selected as microalgal culture medium. Algal growth was investigated with and without addition of macro and micronutrients to the cultivation medium. The highest dry algal weight was observed as 1.31 g/L in 60% PWW:40% AWW without adding micronutrients. Nutrients and organic compounds removal efficiencies by microalga were studied in PAWW. Protein, carbohydrate and lipid percentage of harvested microalga from wastewater and Bold's Basal Medium (BBM) solution were analyzed. Fatty acids analysis revealed that C16 and C18 are the major fatty acids in C. vulgaris cultivated in BBM and PAWW. The results of this study revealed that C. vulgaris is a potential candidate for PAWW treatment and lipid and carbohydrate accumulation.