Nervonic acid is a very long-chain monounsaturated fatty acid with physiological effects including promoting nerve regeneration and regulating lipid metabolism. It has wide application potential in fields such as infant formula, health foods, and medicine. This review summarizes the distribution characteristics of natural nervonic acid from different sources such as animals, plants and microorganisms, focusing on recent progress in the biosynthesis of nervonic acid using oleaginous microorganisms such as Yarrowia lipolytica and Rhodosporidium toruloides. We shed light on the industrial prospects of its biomanufacturing. On this basis, we address the development trends and future prospects of nervonic acid enrichment and purification, efficacy evaluation and product development. This review aims to provide a theoretical basis for the biological manufacturing of nervonic acid and offer a scientific reference for its industrial production and high-value applications.