Microalgae are rich sources of biologically active metabolites. Today, part of the focus of the pharmaceutical industry is the use of secondary metabolites of plant origin. Hydrolysis of microalgae proteins can enhance several other interesting properties as it leads to the release of bioactive peptides with multiple biological activities. Chlorella vulgaris is a unicellular microalgae with economic value that has a high protein percentage and significant effective substances and polysaccharides. Several bioactive peptides derived from Chlorella vulgaris have been produced, showing interesting properties such as antioxidant, antihypertensive, anti-inflammatory, anti-cancer, and antimicrobial effects. Therefore, this microalgae can be used as an oral and medicinal supplement.