Process for the extraction of lipids and sugars from algal biomass, which comprises: - producing an aqueous suspension of algal biomass; - bringing the pH of said aqueous suspension of algal biomass to a value higher than or equal to 10, preferably ranging from 10.2 to 12, obtaining an aqueous suspension of algal biomass at basic pH; - adding at least one anionic flocculant to said aqueous suspension of algal biomass at basic pH obtaining a concentrated algal biomass; - recovering said concentrated algal biomass; -subjecting said concentrated algal biomass to extraction of the lipids obtaining: (i) an organic phase comprising lipids; (ii) a semi-solid phase comprising a residue of said algal biomass; - subjecting said semi-solid phase (ii) to hydrolysis obtaining sugars. The lipids thus obtained can be advantageously used in the production of biodiesel or green diesel which can be used as such, or in a mixture with other fuels for motor vehicles. The sugars thus obtained can be advantageously used as carbon sources in fermentation processes for the production of lipids and also for the production of alcohols (e.g., ethanol, butanol). Said alcohols can be advantageously used as biofuels for motor vehicles or as components that can be added to fuels for motor vehicles.