Green seaweed, as the most abundant species of macroseaweeds, is an important marine biological resource. It is a rich source of several amino acids, fatty acids, and dietary fibers, as well as polysaccharides, polyphenols, pigments, and other active substances, which have crucial roles in various biological processes such as antioxidant activity, immunoregulation, and anti-inflammatory response. In recent years, attention to marine resources has accelerated the exploration and utilization of green seaweeds for greater economic value. This paper elaborates on the main nutrients and active substances present in different green seaweeds and provides a review of their biological activities and their applications for high-value utilization.