We examined the feasibility of using the green seaweed Enteromorpha prolifera as an alternative carbon source for chemical production. For this purpose, the chemical composition (proximate analysis, ultimate analysis, and mineral analysis) and acid hydrolysis of E. prolifera were investigated. In addition, lactic acid fermentation of E. prolifera hydrolysate was carried out using five Lactobacillus strains. The lactic acid yield, which is defined as the ratio of the lactic acid production to total sugar consumption, varied depending on the strains. Lactobacillus salivarius showed the highest lactic acid yield (68.5%), followed by Lactobacillus plantarum (66.0%), Lactobacillus rhamnosus (55.8%), Lactobacillus brevis (54.5%), and Lactobacillus casei (51.4%). The results shown in this study imply that E. prolifera would be competitive with lignocellulosic biomass such as corn stover in terms of lactic acid production yield and that green seaweed can be used as a feedstock for industrial production of chemicals.