Seaweed-derived polysaccharides with unique structural and functional entities have gained special research attention in the current medical sector. Seaweed polysaccharides have been or being used to engineer novel cues with biomedical values to tackle in practice the limitations of counterparts which have become ineffective for 21st-century settings. The inherited features of seaweed polysaccharides, such as those of a biologically tunable, biocompatible, biodegradable, renewable, and non-toxic nature, urge researchers to use them to design therapeutically effective, efficient, controlled delivery, patient-compliant, and age-compliant drug delivery platforms. Based on their significant retention capabilities, tunable active units, swelling, and colloidal features, seaweed polysaccharides have appeared as highly useful materials for modulating drug-delivery and tissue-engineering systems. This paper presents a standard methodological approach to review the literature using inclusion-exclusion criteria, which is mostly ignored in the reported literature. Following that, numerous marine-based seaweed polysaccharides are discussed with suitable examples. For the applied perspectives, part of the review is focused on the biomedical values, i.e., targeted drug delivery, wound-curative potential, anticancer potentialities, tissue-engineering aspects, and ultraviolet (UV) protectant potential of seaweed polysaccharides based engineered cues. Finally, current challenges, gaps, and future perspectives have been included in this review.