Biologists and chemists of the world have been attracted towards marine natural products for the last five decades. Approximately
16,000 marine natural products have been isolated from marine organisms which have been reported in approximately 6,800
publications, proving marine microorganisms to be a invaluable source for the production of novel antibiotic, anti tumor, and anti
inflammatory agents. The marine fungi particularly those associated with marine alga, sponge, invertebrates, and sediments
appear to be a rich source for secondary metabolites, possessing Antibiotic, antiviral, antifungal and antiyeast activities. Besides, a
few growth stimulant properties which may be useful in studies on wound healing, carcinogenic properties, and in the study of
cancers are reported. Recent investigations on marine filamentous fungi looking for biologically active secondary metabolites
indicate the tremendous potential of them as a source of new medicines. The present study reviews about some important bioactive
metabolites reported from marine fungal strains which are anti bacterial, anti tumour and anti inflammatory in action. It highlights
the chemistry and biological activity of the major bioactive alkaloids, polyketides, terpenoids, isoprenoid and non-isoprenoid
compounds, quinones, isolated from marine fungi.