In the present scenario, circular bioeconomy is a prominent sustainable development strategy for obtaining valuable products from renewable resources like wastewater, algal biomass, and many other kinds of waste. The present chapter highlights the various aspects of algal biomass to be valorized into value-added products. Besides, value-added bioactive compounds, algae also potentially remediate variety of wastewater. On comparing with other available conventional wastewater treatment technologies, growing algal biomass in wastewater results in the reclamation of wastewater along with subsequent biomass production that can have widely consideration as major component for circular bioeconomy.