As a natural linear polysaccharide, alginate can be gelled into calcium alginate fiber and exploited for functional material applications. Owing to its high hygroscopicity, biocompatibility, nontoxicity and non-flammability, calcium alginate fiber has found a variety of potential applications. This article gives a comprehensive overview of research on calcium alginate fiber, starting from the fabrication technique of wet spinning and microfluidic spinning, followed by a detailed description of the moisture absorption ability, biocompatibility and intrinsic fire-resistant performance of calcium alginate fiber, and briefly introduces its corresponding applications in biomaterials, fire-retardant and other advanced materials that have been extensively studied over the past decade. This review assists in better design and preparation of the alginate bio-based fiber and puts forward new perspectives for further study on alginate fiber, which can benefit the future development of the booming eco-friendly marine biomass polysaccharide fiber.