Microalgae are a source of nutritional and bioactive compounds (polysaccharides, proteins, lipids, vitamins, minerals, dietary fiber, bioactive peptides, fatty acids, vitamins, phenolics, and carotenoids) that may present antioxidant and antimicrobial properties. Microalgae extracts and biomass have great potential to be incorporated into the formulation of edible films and coatings for foods. This review aimed to highlight recent research involving incorporating microalgae biomass and extracts into edible coatings and films to obtain materials with antimicrobial and antioxidant properties. Furthermore, their application in the preservation of foods is reviewed. Spirulina sp. and. Chlorella vulgaris extract and biomass are the most used in film formulation, and casting is still the most used production method. Furthermore, the main biopolymers are the gums, starch, sodium caseinate, chitosan, and protein isolates. The films were applied in meat, fish, seafood, fruits, and vegetables, resulting in maintenance of the desired texture properties, reduced microbial counts during storage, improved technological and sensory properties, and higher concentration of bioactive compounds. Opportunities are available to study other microalgae species, production methods, and types of biopolymers. Thus, it is concluded that producing films and coatings with microalgae is an emerging technology with different possibilities to enable its use in the food industry.