Most marine macroalgae such as red seaweeds are potential alternative sources of useful bioactive compounds. Beside serving as food source, recent studies have shown that red seaweeds are rich sources of bioactive poly- saccharides. Red seaweed polysaccharides (RSPs) have various physiological and biological activities, which allow them to be used as immunomodulators, anti-obesity agents, and prebiotic ingredients. Lack of summary information and human clinical trials on the various polysaccharides from red seaweeds, however limits industrial-scale utilization of RSPs in functional foods. This review summarizes recent information on the ap- proaches used for RSPs extraction and purification, mechanistic investigations of their biological activities, and related molecular principles behind their purported ability to prevent diseases. The information here also pro- vides a theoretical foundation for further research into the structure and mechanism of action of RSPs and their potential applications in functional foods.