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As a substitute for conventional plastics in the market, bioplastics are winning their reputation. Pursuant to the researches carried out, in spite of being notably biodegradable in nature bioplastics have the similar qualities as conventional polymers. On the seeking for substitute for conventional plastics we found profusely existing, readily extractable algae as a superior source considering it does not rival with food roots for the bioplastic synthesis. This review covers the capacity of both microalgae and macroalgae in producing bioplastic considering polycarbohydrates present in the algae, such as cellulose, alginate, and carrageenan, have the ability to generate bioplastic. Consequently, the species employed as sources for bioplastic synthesis and various applications of algae-derived bioplastic were abbreviated.