This study determined the effect of growth media and culture concentration on the growth, proximate, and microelement composition of Ankistrodesmus falcatus. The culture of A. falcatus was done using three media, namely Modified COMBO Medium (COMBO), Bold’s Basal Medium (BBM), and Bristol, at two concentrations (50% and 100%). The results obtained show that the cell density (>3.5 × 107 cells/mL), optical density (>0.24), and specific growth rate (>0.429%/day) were significantly higher (p ≤ 0.05) in BBM and COMBO than in Bristol (<3.1 × 107 cells/mL; <0.23; <0.416%/day, respectively) at both concentrations. However, biomass was higher in BBM (>2.20 g/L) than in COMBO (1.87–2.13 g/L), while Bristol had the lowest value observed (1.70–1.73 g/L). Biochemical and microelement composition showed variations between media and at the different concentrations, with higher values observed in BBM and COMBO. Based on the growth parameters and nutritional composition, it was concluded that BBM and COMBO were better media for the propagation of A. falcatus growth than Bristol. The study also demonstrated that the microalgae can be cultured using half of the media’s concentration to lower production costs.