Algal studies remain necessary for risk assessment and their utility in ecotoxicology is the evaluation of lethal and sub-lethal toxic effects of potential toxicants on inhabitants of several ecosystems. Effects on algal photosynthetic apparatus caused by various chemical species have been extensively studied. The present chapter summarizes the published data concerning the toxicity of various organic and inorganic pollutants such as oils, pesticides, antifoulants and metals on photosynthesis of aquatic primary producers. Biochemical mode of action resulting in the disruption of photosynthesis depends on the chemical's nature and the characteristics of the exposed microorganism. Observed differences in response and sensitivity by different species to the same toxicant were attributed to several algal characteristics including photosynthetic capacity, pigment type, cellular lipid and protein content, and cell size. Single species bioassays either for one chemical alone or in mixture have been well reported and tolerance of both marine and freshwater water-column phytoplaktonic species has been examined. Adequate published information on multispecies tests (communities) in laboratory and field studies exists. However, risk assessment on photosynthesis of microbenthic periphyton is inadequate, though it is essential especially for hydrophobic organic molecules. Further studies are required to evaluate the adverse effects of metabolites on aquatic microalgae.