Among marine sources, seaweeds and sea anemones are highly attractive for their diversity and complex composition, the major components being polysaccharides, proteins, pigments, phenolic compounds, vitamins and minerals. Seaweeds and sea anemones could be a source of different proteins and peptides with unique structures with interesting biological properties, such as antitumoral, antimicrobial, antiinflammatory, antidiabetic, antioxidant, among others. This chapter presents an overview on the marine algal and anemone bioactive proteins and peptides, their extraction and the development of novel carrier systems with potential interest for pharmaceutical applications.