The aim of the study was to obtain alginate oligosaccharides by using two degradation methods of sodium alginate (SA): with hydrochloric acid (G—guluronate, M—mannuronate and G + M fractions) and hydrogen peroxide (HAS—hydrolyzed SA), in order to assess and compare their biological activity and physico-chemical properties, with an attempt to produce gels from the obtained hydrolysates. The efficiency of each method was determined in order to select the fastest and most efficient process. The ferric ion reducing antioxidant power (FRAP), the ability to scavenge DPPH free radicals, rheological properties, Fourier Transformed Spectroscopy (FTIR) and the microbiological test against Escherichia coli and Staphylococcus aureus were performed. In order to check the functional properties of the obtained oligosaccharides, the texture profile analysis was assessed. The hydrolysis yield of acid SA depolymerization was 28.1% and from hydrogen peroxide SA, depolymerization was 87%. The FTIR analysis confirmed the degradation process by both tested methods in the fingerprint region. The highest ferric reducing antioxidant power was noted for HSA (34.7 µg), and the highest hydroxyl radical scavenging activity was obtained by G fraction (346 µg/Trolox ml). The complete growth inhibition (OD = 0) of alginate hydrolysates was 1%. All tested samples presented pseudoplastic behavior, only HSA presented the ability to form gel.