Lithium niobate on insulator (LNOI), regarded as an important candidate platform for optical integration due to its excellent nonlinear, electro-optic, and other physical properties, has become a research hotspot. A light source, as an essential component for an integrated optical system, is urgently needed. In this Letter, we reported the realization of 1550 nm band on-chip LNOI microlasers based on erbium-doped LNOI ring cavities with loaded quality factors higher than 1 million at ∼970nm, which were fabricated by using electron beam lithography and inductively coupled plasma reactive ion etching processes. These microlasers demonstrated a low pump threshold of ∼20µW and stable performance under the pump of a 980 nm band continuous laser. Comb-like laser spectra spanning from 1510 to 1580 nm were observed in a high pump power regime, which lays the foundation of the realization of pulsed laser and frequency combs on a rare-earth ion-doped LNOI platform. This Letter effectively promotes the development of on-chip integrated active LNOI devices.