The high hydrophilicity of alginate materials makes delivering a high load of hydrophobic drug difficult. To overcome this drawback, sodium alginate (SA) was modified using octylamine (OA), and then kaempferol (KP) was combined with the alginate solution through the hydrophobic interaction between OA and KP. The modified SA/KP (MSA/KP) hydrogel films were ionically cross-linked by immersing in calcium chloride solution. Subsequently, the products were analyzed via Fourier transform infrared spectroscopy, scanning electron microscopy, contact angle test, thermogravimetric analysis, swelling analysis, water vapor transmission, and mechanical property test. Results showed that compared with the SA hydrogel films, the MSA/KP hydrogel films exhibited an interporous structure, good swelling, and mechanical properties. Moreover, the drug release experiments demonstrated that the MSA/KP hydrogel films achieved a KP encapsulation efficiency of 70.4%, with a sustained KP release of up to 80 h. The cell viability experiments demonstrated that the MSA/KP hydrogel films posed no evident cytotoxicity to human umbilical vein endothelial cells.