The need for exploring nonfood low-cost sustainable sources for biodiesel production is ever increasing. Commercial and industrial algae cultivation has numerous uses in biodiesel production. This study explores S. elongata as a new algal feedstock for the production of biodiesel that does not compete with food production. The major fatty acids identified in S. elongata oil were oleic (30.5%), lauric (29.9%), myristic (17.0%), and palmitic (14.2%) acids. Transesterification to FAME was conducted using basic (KOH), acidic (HCl), and Zeolitic catalysts for assessment. The yields with acidic (54.6%) and zeolitic (72.7%) catalysts were unremarkable during initial screening. The highest biodiesel yield (99.9%) was achieved using KOH, which was obtained with the optimum reaction conditions of 1.0% catalyst, 60 °C, 4 h, and an oil-to-methanol volume ratio of 1:4. The resulting S. elongata oil methyl esters exhibited densities, CNs, and IVs, that were within the ranges specified in the American (ASTM D6751) and European (EN 14214) biodiesel standards, where applicable. In addition, the high SVs and the moderately high CPs and PPs were attributed to the presence of large quantities of short-chain and saturated FAME, respectively. Overall, the composition and properties of FAME prepared from S. elongaae oil indicate that S. elongata is suitable as an alternative algal feedstock for the production of biodiesel.