Seaweeds have emerged as a promising renewable resource for sustainable biofuel production, offering advantages of rapid growth, high carbohydrate content, and non-competition with food crops. Among different generations of biofuels, the 3rd generation of biofuel is obtained from seaweeds and possess numerous advantages. This chapter describes recent innovations in seaweed cultivation, biotechnological interventions, and processing technologies that enhance their potential as biofuel feedstocks. Cultivation strategies such as open-ocean farming, land-based systems, and integrated multi-trophic aquaculture are introduced, along with genetic improvements, microbial interactions, and strain optimization that can significantly boost biomass productivity. The technological advances, including mechanized harvesting, IoT-enabled monitoring, and innovative biorefinery methods such as microwave-assisted hydrolysis and supercritical water gasification, are highlighted for their ability to reduce costs and improve energy yields. The environmental implications of seaweed cultivation like carbon sequestration, mitigation of eutrophication, and habitat enhancement are assessed alongside socioeconomic benefits, including livelihood opportunities in coastal regions. Challenges related to large-scale production, supply chain stability, regulatory hurdles, and public acceptance remain significant barriers and discussed briefly. The chapter discussion clearly indicated that seaweed has the potential to become a key socioeconomic driver through biomass production and high-value compounds. The public awareness, interdisciplinary collaboration, and educational initiatives will play a vital role in accelerating commercialization, positioning seaweed biofuels as a critical component of the blue bioeconomy and global climate solutions. Overall, the present chapter underscores the potential of seaweed biofuels as a low-carbon alternative, while stressing the need for integrated solutions combining technological, ecological, and policy innovations to achieve commercial viability.