The purpose of this review was to describe the status of research on marine actinobacteria yielding pharmaceutically active secondary metabolites and other important bioproducts. Marine actinobacteria are the most economically and biotechnologically priceless prokaryotes. The major genera of actinobacteria include Streptomyces, Actinomyces, Frankia, Micrococcus, Micromonospora and several others. Secondary metabolites produced by the marine actinobacteria possess a wide range of biological activities. As the search for discovery of rare and new actinomycetes is continuous and is getting significant interest to drug discovery because the development of new and potent therapeutic agents is needing to act against resistance pathogens. For the detection and isolation of bioactive actinomycetes, improved cultivation methods and recent insights in molecular technologies are essential. In this context in this review we have described the modern methods in cultivation of marine actinobacteria and about the marine environmental metabolites. In addition, nanotechnological approaches for Production of Bioactive compounds from Marine Actinobacteria are also provided.