Gelidium corneum is a well-known agarophyte, harvested worldwide for its high agar quality. However, the species also exhibits an interesting nutritional profile, but with seasonal variations. Therefore, to evaluate the nutritional value of G. corneum, ash, crude protein, total lipids, and carbohydrates were analyzed at different times of the year. The heavy metals mercury, arsenic, lead, cadmium, and tin, as well as iodine were also measured. Finally, the seasonal antioxidant capacity of G. corneum extracts was evaluated. Our results indicate that the biomass is rich in protein (up to 16.25 ± 0.33%) and carbohydrates (up to 39.5 ± 3.29%), and low in lipids (up to 2.75 ± 0.28%), and especially in the summer, the AI, TI indexes, n-6/n-3 and h/H ratios (0.93, 0.6, 0.88 and 1.08, respectively) are very interesting. None of the contaminants exceeded the legally established limits, and the iodine values were adequate for a healthy diet. Finally, the antioxidant capacity is fair, with the DPPH £ 10.89 ± 1.46%, and ABTS £ 13.90 ± 1.54% inhibition, FRAP £ 0.91 ± 0.22 AAE.g−1, and TPC £ 6.82 ± 0.26 GAE.g−1. The results show that G. corneum is an attractive resource, with potential use as food or as a food supplement.