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This short review analyzed the recent trend towards, progresses towards the preparation of chemicals of, and value-added biomaterials from marine macroalgae resources, especially green seaweeds and their derived ulvan polysaccharides for various applications. In recent years, ulvan both in pristine and modified forms has gained a large amount of attention for its effective utilization in various areas due to its unique physiochemical properties, lack of exploration, and higher green seaweed production. The pristine form of ulvan (sulfated polysaccharides) is used as a bio-component; food ingredient; or a raw material for the production of numerous chemicals such as fuels, cosmetics, and pharmaceuticals, whereas its modified form is used in the sector of composites, membranes, and scaffolds, among others, because of its physicochemical properties. This review highlights the utilization of green seaweed and its derived ulvan polysaccharides for the preparation of numerous chemicals (e.g., solvents, fuel, and gas) and also value-added biomaterials with various morphologies (e.g., gels, fibers, films, scaffolds, nanomaterials, and composites).