Chlorophyta and Cyanophyta are photosynthetic organisms characterized by their biochemical plasticity, which has allowed them to develop in different environments and have a faster growth rate than plants. Depending on the species and environmental conditions, these organisms can produce nitrogenous enzymes, for atmospheric nitrogen fixation; phosphatases, that solubilize phosphorus; phytohormones, that promote plant growth; and hygroscopic polysaccharides, that prevent erosion and improve soil characteristics. In this sense, the aim of this review was to analyze the available information on the use of Chlorophyta and Cyanophyta as biofertilizers and their potential application in organic food production. Multiple studies and researches were found demonstrating the advantages of these microorganisms when being used to improve plants productivity, and also at the same time, leading to sustainable agriculture that is respectful to the environment. However, their high production cost has become a limiting factor for their commercialization.