Terpenoids are a class of high value-added natural products with a variety of biological functions.Genetically engineered microorganisms,such as those of Escherichia coli and Saccharomyces cerevisiae,have merits in producing plant or fungus-derived terpenoids,due to their mature genetic manipulation,simple nutrient demand and fast growth.Oxygen,as a key environmental factor,is particularly important to micro-bial metabolism and growth,and suitable oxygen supply is viewed as a prerequisite for realizing highly effi-cient production of terpenoids by engineered microorganisms.In this article,the role of oxygen in regulating terpenoid bioproduction is overviewed from the viewpoints of cellular carbon metabolism,energy metabolism and terpenoid anabolism.Strategies on adjusting oxygen availability to microorgan-isms,including genetic modification of cellular metabolism related with oxygen utilization,are summa-rized and discussed,to provide helpful information for further improvement of terpenoid biosynthesis by microbes.