This study aimed to explore the relationship between Microcystis aeruginosa growth and nutrients released from fish food, which mainly simulates the effect of uneaten food on algae growth and water quality variables during aquaculture activities. Fish food (0, 0.1, 0.2, 0.5 and 1 g dosages tested) of different grain sizes (original; 0.147 ≤ d ≤ 0.85 mm; d ≤ 0.147 mm) was added each into M-II culturing medium (nitrogen and phosphorus absent). During the experimental running period, the concentrations of total phosphorus (TP), orthophosphate phosphorus (PO43−-P), total nitrogen and ammonia-nitrogen (NH4+-N) increased significantly with increasing fish food dosages regardless of their grain sizes. Furthermore, grain size had a negligible effect on nutrient release from fish food with the same dosage. Based on the above experiment, M. aeruginosa was introduced into the culturing media at different dosages (nitrogen and phosphorus absent) with 0, 0.05, 0.1, 0.2 and 0.5 g fish food to assess algae growth characteristics. Algae cell density significantly increased with the dosage ranging from 0 to 0.2 g. NH4+-N and PO43−-P were the main fractions of available nutrients used by M. aeruginosa in the fish food. In comparison to the growth dynamics of algae in M-II culturing medium, the lag phase for M. aeruginosa in the presence of fish food extended significantly when calculating the time from the addition of fish food and insignificantly when the time for nutrient release from fish food was excluded.