Marine microalgae are a promising feedstock for biofuel production given their high growth rates and biomass production together with cost reductions due to the use of seawater for culture preparation. However, different microalgae species produce different families of compounds. Some compounds could be used directly as fuels, while others require thermochemical processing to obtain quality biofuels. This work focuses on the characterization of three marine microalgae strains native in Mexico and reported for the first time. Ultrastructure and phylogenetic analysis, suggested that they belong to Nannochloropsis sp. (NSRE-1 and NSRE-2) and Nannochloris sp. (NRRE-1). The composition of their lipid fractions included hydrocarbons, triacylglycerides (TAGs), free fatty acids (FFAs) and terpenes. Based on theoretical estimations from TAG and FFA composition, the potential biodiesels were found to comply with six of the seven estimated properties (ASTM D6751 and EN 14214). On the other hand, hydrocarbons and terpenes synthesized by the strains have outstanding potential as precursors for the production of other renewable fuels, mainly green diesel and bio-jet fuel, which are “drop-in” fuels with quality properties similar to fossil fuels. The validity of this theoretical analysis was demonstrated for the oxygenates of strain NSRE-2, which were experimentally hydrodeoxygenated, obtaining a high-quality renewable diesel as the reaction product.