The increasing demand for plastic and its products worldwide has resulted in a serious pollution issue with plastic trash, or “white pollution,” which persists in the environment for centuries before degrading. The demand for synthetic plastics derived from petrochemicals can be replaced by bioplastics, which can be used as an alternate source of plastic. Seaweeds or macroalgae have a huge acceptance among all other renewable resources as a source of bioplastics as they have high polysaccharide content, no freshwater and arable land requirements, limited nutrient requirements, and higher growth rates compared to terrestrial plants. Although there are several conventional methods for extracting seaweed hydrocolloids, increased demand has highlighted some of these techniques’ shortcomings, most notably in terms of consistency and efficiency of the final product. “Green extraction” techniques have demonstrated great potentiality (reproducible, faster, and environmentally friendly) for increasing production in an economical manner. Nonetheless, this chapter covers the present status, progress, limitations, and future prospects of seaweeds to better understand their potential as a resource for bioplastic synthesis in the near future.