The widespread presence of micro/nanoplastics in aquatic ecosystems has certainly affected ecosystem functions and food chains/webs. The impact is worsened by the accumulation of different pollutants and microorganisms on the surface of microplastics. At the tissue, cellular, and molecular levels, micro/nanoplastics and the contaminants they carry can cause damage to aquatic organisms. Problematically, the toxic mechanism of micro/nanoplastics and contaminants on aquatic organisms is still not fully understood. Algae are key organisms in the aquatic ecosystem, serving as primary producers. The investigation of the toxic effects and mechanisms of micro/nanoparticles and pollutants on algae can contribute to understanding the impact on the aquatic ecosystem. Micro/nanoplastics inhibit algal growth, reduce chlorophyll and photosynthesis, induce ultrastructural changes, and affect gene expression in algae. The effects of energy flow can alter the productivity of aquatic organisms. The type, particle size, and concentration of micro/nanoparticles can influence their toxic effects on algae. Although there has been some research on the toxic effects of algae, the limited information has led to a significant lack of understanding of the underlying mechanisms. This paper provides a comprehensive review of the interactions between micro/nanoplastics, pollutants, and algae. The effects of various factors on algal toxicity are also analyzed. In addition, this article discusses the combined effects of microplastics, global warming, and oil pollution on algae and aquatic ecosystems in the context of global change. This research is of great importance for predicting future environmental changes. This review offers a more comprehensive understanding of the interactions between microplastics/nanoplastics and algae, as well as their impact on the carbon cycle.