Secondary metabolites obtained from marine biodiversity have varied bioactive compounds that possess various properties of pharmaceutical relevance. The diversity in chemical and molecular forms imparts these metabolites tremendous pharmacological significance. So many diseases are still untreatable due to the non-availability of proper medicines. The novel drugs isolated from the marine microbes which are not yet explored will provide an extraordinary, advanced approach to drug discovery. The novelty in drug development owing to the presence of such bioactive compounds has led to exploring new horizons pertaining to diseases and their treatment. These metabolites also serve as an important tool in the field of agriculture as biocides for crop improvement. Nowadays, much of the research is being focused on alternative sources of energy, in which algae are contributing a great deal. Thus, these metabolites play a pivotal role in various industries in the production of commercial products that are beneficial for mankind. Much of the research still needs to be done in this field as most of the marine microbes are not easily accessible due to the ocean depths. If such microbes can be isolated from the deep ocean, then novel research will pave the drug discovery to treat those ailments which are not possible till date. Even a lot of study is needed in the area of bioprospecting for the advancements in isolation and characterization of potential compounds. If we can isolate the potent compound, we will not only be able to prevent the occurrence of such lethal diseases but also be able to save human lives. The present review focuses on the important metabolites extracted from the marine microbes and their pharmacological significance, which owe special significance to the medical community and drug development.