Dunaliella salina is a green alga with the great potential to generate natural β-carotene. However, the corresponding mathematical models to guide optimized production of β-carotene in Dunaliella salina is not yet available. In this study, dynamic models were proposed to simulate effects of environmental factors on cell growth and β-carotene production in D. salina using online monitoring system. Moreover, the identification model of the parameter variables was established, and an adaptive particle swarm optimization algorithm based on parameter sensitivity analysis was constructed to solve the premature problem of particle swarm algorithm. The proposed kinetic model is characterized by high accuracy and predictability through experimental verification, which indicates its competence for future process design, control and optimization. Based on the model established in this study, the optimal environment factors for both β-carotene production and microalgae growth were identified. The approaches created are potentially useful for microalgae cultivation and high-value compounds production.