Algal biomass holds immense potential as a sustainable resource for biofuels and high-value bioproducts, driving the transition towards a circular economy. Recent advancements in harvesting and processing technologies have significantly improved the efficiency and economic viability of algal biorefineries. Innovative harvesting methods, including enhanced flocculation, membrane filtration, and electrochemical techniques, have reduced energy consumption while increasing recovery rates. Concurrently, cutting-edge processing technologies, such as energy-efficient drying, hybrid dewatering, and advanced extraction methods, maximize product yield and quality. Integrated biorefinery approaches further optimize resource utilization, minimizing waste and environmental impact. Despite these advancements, challenges remain in terms of high capital costs, energy demands, and scalability. Life cycle assessments and techno-economic analyses underscore the need for sustainable solutions and cost-effective designs. Continued research and strategic collaboration are essential to overcome these challenges, paving the way for algal biomass to play a pivotal role in sustainable bioengineering and green remediation initiatives.