Edible seaweeds are rich in essential vitamins and minerals, which made them a popular food worldwide. Porphyra haitanensis is one of the most commonly consumed seaweeds with the known ability to accumulate a high level of total arsenic (As). A large number of articles have shown arsenic and phosphorus (P) interactions in microalgae due to the plant's inability to differentiate arsenate from phosphate. However, very limited information is available for edible seaweed at environmentally relevant concentrations. In this study, P. haitanensis was treated with arsenic as AsV (As1: 0.06 μM, As2: 0.4 μM, As3: 1.2 μM) and phosphorous (P1: 3.2 μM, P2: 13 μM) in a filtered seawater matrix under laboratory condition for six days. A better growth rate was found in seaweeds grown in P2 treatments. Moreover, superoxide dismutase (SOD) activity and malondialdehyde (MDA) content measurements revealed that a higher P concentration prevent seaweeds from lipid peroxidation and oxidative stress. Transcriptome studies indicated the As replacement to P has the ability to target seaweed cell membrane composition, transmembrane transport, DNA and ATP binding. The inorganic As (iAs) had a concentration of 0.54 to 4.45 mg/kg in P. haitanensis on Day 6 with As1, As2, and As3 treatments under low P regime (P1), which exceeds the limits of iAs concentration (0.1–0.5 mg/kg) in National Food Safety Standard-Limits of Pollutants in Food (GB 2762-2017). High P regime (P2) not only reduced the total As but also iAs effectively, even in the highest As treatment (As3), the iAs concentration was less than 0.5 mg/kg on Day 6. These findings provide a good insight for seafood safety guarantees and are important for the management of coastal artificial seaweed farming.