Abstract: Ocean occupies 70 % of the earth’s land mass. Forty percent of the world inhabitants are living along the coastline of the oceans. Marine ecosystems provide more potential biodiversity for novel products and services than any other ecosystem in the world. Marine lives ranging from bacteria to higher forms of lives are sources of micro and macro molecules required for advancement of biotechnology. Despite the vast socio economic potentials of oceans, yet developing countries are yet to fully tap the potentials. Hence, marine microbiology which is the study of microorganisms from marine environment and marine biotechnology defined as application of marine micro and macro organisms either in whole or part for production of various industrial, medical, environmental and agricultural products and services for human utilization serve as key tools in exploring oceanic potentials. This paper aim to highlights potentials of marine microbiology and biotechnology as key tools in tapping vast marine biodiversity and challenging factors to utilize the tools like other developed countries of the world.