Currently, India utilizes an enormous amount of fossil fuels and a major quantity of fossil fuels are imported from other countries. It’s a giant load on the Indian Economy. The burning of fossil fuels causes global warming. Carbon neutral, renewable fuels are essential for environmental protection and it’s economically sustainable for India. Biofuels attention day by day due to a rise in energy demands and environmental concerns. Biodiesel produced from algal oil a possible renewable and carbon-neutral substitute to fossil fuels. The feasibility of the algal-based biodiesel industry depends on the selection of adequate species regarding commercial oil yields and oil quality. Present research work to bioprospecting and screening of 19 algal and blue-green algal species, the oil percentage and the fatty acid profiles, used for analyzing the biodiesel fuel properties. Oil from Tolypothrix phyllophila algal strain and compared it with another eighteen algal and blue-green algal strains from different literature. Tolypothrix phyllophila algal strain contains approximately 12.6% lipid on a dry weight basis. We also compared the FAME profile of 19 algal and blue-green algal strains and calculated and compared the fuel properties such as cetane number, Iodine Value, etc. of the biodiesel derived from these algal and blue-green algal oils based on chain length and saturation. We also investigated the 19 algal and blue-green algal fatty acid profiles and its suitability for biodiesel production and strains selection through PROMETHEE (Preference Ranking Organization Method for Enrichment Evaluations) and GAIA (geometrical analysis for interactive aid) analysis.