<p>Obesity is a complex chronic disease and a global public health challenge which contains several pathways. Enzymes involved in these pathways have crucial roles; therefore, they could be selectively targeted to modulate obesity. Pancreatic lipase enzyme is the main enzyme responsible for breaking down dietary triglycerides into fatty acids and monoglycerides that are then absorbed by the intestine. Thus, suppressing pancreatic lipase in the digestive tract can prevent fat absorption by inhibiting triglyceride hydrolysis. Therefore, pancreatic lipase inhibitors play a key role in fat metabolism. The well-known FDA-approved lipase inhibitor is orlistat, whose long-term intake has been linked to gastrointestinal and liver problems. To overcome these side effects, using natural and bioactive ingredients from medicinal plants in the modulation of metabolic disorders has been considered. In this regard, algae (micro-and macroalgae) are an excellent source of nutrients and exhibit several advantages over terrestrial plants, including faster growth rate, shorter cultivation cycles, higher biomass productivity, and higher economic efficiency, which make algae as a superior alternative to medicinal plants. Recently, some studies have reported that algae extracts and their metabolites, such as astaxanthin, fucoidan, alginate, polyphenols, and peptides, exhibit pancreatic lipase-inhibitory activity through chemical interactions with the main residues of lipase catalytic triad that block the enzyme’s active site and alter its structure. Therefore, algae and their products are candidates for the management of obesity via inhibition of pancreatic lipase. However, current investigations regarding their functional properties remains scattered, underscoring the need for critical review. This study describes the pancreatic lipase structure and mechanism, the classification of algae, and the lipase-inhibitory activity of algae extracts and their bioactive compounds.</p>