The invention relates to a method for cultivating oleaginous microalgae by using fecal sewage, which comprises the steps of pretreatment of the fecal sewage, inoculation activation and acclimated cultivation of microalgae, amplification cultivation of the microalgae, accumulation of lipid content of the microalgae, concentration of the microalgae and collection of the microalgae. According to themethod, a liquid which is discharged during the process of feces recycling treatment and conforms to the emission standard is used for cultivating the microalgae so that cultivation water and reagents are saved during the microalgae cultivation, simultaneously, the microalgae can be used without being sterilized, the production process is reduced, the cost of obtaining microalgae biodiesel is reduced, nitrogen and phosphorus in the liquid serve as nutrient materials during the microalgae cultivation, various indexes in the sewage are further reduced, and water quality of the sewage is improved. Besides, biogas produced during the process of feces recycling treatment serve as a heating fuel, carbon dioxide (CO2) separated during biogas purification serve as a carbon source for the microalgae cultivation, the microalgae cultivation and the feces recycling treatment are organically coupled, and energy conservation and emission reduction are promoted while the cost is reduced.