Proximate composition and physicochemical properties to include mineral content, free amino acids, water retention capacity (WRC), and lipid adsorption capacity (LAC) of dried Pyropia acanthophora locally known as “Gamet” and endemic only in the northern Philippines were evaluated. Dried Py. acanthophora contained high amounts of crude protein (23.0±0.1%) followed by ash (16.7±0.1%), moisture (11.8±1.5%) and lipid (1.1±0.1%). Analysis of macrominerals using Inductively Coupled Plasma Optical Emission Spectrometry showed that dried Py. acanthophora have significant amounts of K, Na, Mg, P, and Ca in decreasing order. Twenty-four (24) free amino acids were also determined, and seven essential amino acids were identified including isoleucine, leucine, lysine, valine, phenylalanine, threonine, and tryptophan. A significant amount of taurine was also detected among the free amino acids. WRC of dried Py. acanthophora was determined to be 5.60 ±0.1g-H2O.g-1. LAC of dried Py. acanthophora were determined to be 2.88± 0.10g-oil.g-1, 3.30± 0.21g-oil.g-1, and 3.28±0.21g-oil.g-1 using sunflower oil, sesame oil and soybean oil, respectively. The high amounts of carbohydrate of dried Py. acanthophora determined by difference could have influenced its WRC and LAC. Based on the results of the study, Py. acanthophora should be promoted as health food and could be a potential material for the production of food supplements to meet the recommended intake of protein and other essential nutrients for humans.