Herein, nano-hydroxyapatite impregnated chitosan/k-carrageenan (nHAp/CHI/k-CGN) nanocomposite was prepared through co-precipitation approach and was compared with nano-hydroxyapatite/chitosan (nHAp/CHI) nanocomposite for bone regeneration capability. The comparative assessment carried out through Scanning electron microscopy, Fourier transform infra-red spectroscopy, X-ray diffraction and mechanical testing revealed rough surface morphology, better interaction between the components, favorable crystallinity, and higher mechanical properties for the nHAp/CHI/k-CGN nanocomposite as compared to the bicomponent nanocomposite.Moreover, the in vitro biomineralization study showed increased deposition of apatite layer on nHAp/CHI/k-CGN nanocomposite as compared to nHAp/CHI nanocomposite. The cytocompatibility studies carried out using the MG-63 cell line revealed greater cell viability when cultured in the presence of nHAp/CHI/k-CGN nanocomposite as compared to nHAp/CHI. In addition, appropriate swelling ability, enhanced protein adsorption, and favorable degradation rate were also observed for the nHAp/CHI/k-CGN nanocomposite. All the results substantiate that nHAp/CHI/k-CGN nanocomposite could be a better candidate for bone regeneration.