Recently, the isolation and identification of various biologically active secondary metabolites from algae have been of scientific interest, with particular attention paid to carotenoids, widely distributed in various photosynthetic organisms, including algal species. Carotenoids are among the most important natural pigments, with many health-promoting effects. Since the number of scientific studies on the presence and profile of carotenoids in algae has increased exponentially along with the interest in their potential commercial applications, this review aimed to provide an overview of the current knowledge (from 2015) on carotenoids detected in different algal species (12 microalgae, 21 green algae, 26 brown algae, and 43 red algae) to facilitate the comparison of the results of different studies. In addition to the presence, content, and identification of total and individual carotenoids in various algae, the method of their extraction and the main extraction parameters were also highlighted.