The effects of five representative aldehydes in lignocellulosic hydrolysates on the growth and the lipid accumulation of oleaginous yeast Trichosporon fermentans were investigated for the first time. There was no relationship between the hydrophobicity and the toxicity of aldehyde, and 5-hydroxymethylfurfural was less toxic than aromatic aldehydes and furfural. Binary combination of aromatic aldehydes caused a synergistic inhibitory effect, but combination of furan and aromatic aldehydes reduced the inhibition instead. A longer lag phase was found due to the presence of aldehydes and the decrease of sugar consumption rate, but more xylose was utilized by T. fermentans in the presence of aldehydes, especially at their low concentrations. The variation of malic enzyme activity was not related to the delay of lipid accumulation. Furthermore, the inhibition of aldehydes on cell growth was more dependent on inoculum size, temperature, and initial pH than that on lipid content.