The aim is to study the phytochemical constituents present in the two species of algae, Gracilariaedulisand Hypneavalentiae. Preliminary phytochemical analysis revealed the presences of phytochemicals such as carbohydrates, quinines and glycosides in all the tested extracts in both the Gracilariaedulisand Hypneavalentiae. Alkaloids, coumarins, proteins, steroids, phytosteroids, phlobatannins and anthraquinones were absent in all the tested extracts. The amount of total phenolics, total flavonoids and tannin content in ethyl acetate and ethanol extracts of G. edulisand H. valentiaewere determined spectrometrically. The ethyl acetate extract of G. edulisand ethanol extract of H. valentiaeshowed higher flavonoid content. The ethyl acetate extract of G. edulisand H. valentiaeshowed higher total tannin content. The present study suggested that, detailed studies on the isolation and characterization of the seaweed extracts as well as investigations on other biological studies and in vivo assays will be interesting in discovering new drugs.