Non-renewable fossil fuels are limited and will disappear soon due to increasing demand and high rate of population growth. Alternative renewable resources were chosen in order to lower the rate of pollution in terms of zero carbon emissions and raising the price of oil. Macroalgae have numerous properties to resolve these problems. High growth rate, nutritional properties among different macroalgae species from Chlorophyta, Phaeophyta and Rhodophyta can result in biodiesel, biohydrogen, bioethanol, biobutanol, biomethane and bio-oil production. Carbohydrates and lipid rich macroalgae are registered as best for biofuel generation. This chapter highlights the availability of different macroalgae species for biofuel production. This study also demonstrates the classes of biofuels obtained from macroalgae in a cost-effective way to reduce the carbon emission and a step forward towards sustainability and circular bioeconomy. Modification methods including pretreatment, nanotechnology and artificial intelligence are also highlighted for sustainable biofuel generation.