Nanotechnology has significantly boosted numerous industries, sparking a fresh surge of study into developing nanomaterials. The nanomaterial has important uses in the medicinal and industrial sectors. Consumers have recently responded positively to bio-based nanomaterials because they limit the use of hazardous chemicals in their synthesis. The chemical method of synthesizing nanomaterials is economically viable; nevertheless, one notable disadvantage is the usage of hazardous chemicals and the generation of hazardous by-products. The development of biological methods for nanomaterial synthesis has an emphasis on ecologically safe, low-cost, and non-hazardous technologies. Microalgae have been recognized as important microorganisms for nanomaterials synthesis. This book chapter goes into great length on the applications of algae-biomass-based nanomaterials and a future perspective is discussed. The work presented may be useful to the scientific community since it reviews the suitable algae for nanomaterial development in a wider application.