The current study sought to assess the antitumor, anticancer, and antioxidant efficacy of Ulva lactuca-mediated selenium nanoparticles by using an in vitro model of human hepatocellular carcinoma (HepG-2 cells) and HAV HM175 strain of hepatitis A virus, with the evaluation of antioxidant activity conducted using DPPH assay. The study showed promising cytotoxicity at the highest concentrations of 250 and 500 µg/mL, with viability rates of 19.43 and 8.75% for cancer cells, and the lowest toxicity with the highest viability rates of 59.41 and 30.64% for normal cells, respectively. These concentrations also exhibited the highest inhibition rates (51.28 and 76.31%, respectively) against the Epidermal Growth Factor Receptor (EGFR) enzyme and provide an explanation of the mechanism of such cytotoxicity, as this enzyme is responsible for the degradation of EGFR. Additionally, U. lactuca-mediated selenium nanoparticles (USeNPs) showed promising antiviral activity (+++) (50–<75%) with EC50 = 57.41 μg/mL and 74.13% antiviral rates against HAV HM175 at 100 µg/mL maximum noncytotoxic conc (MNCC). Using MTT assay, its selectivity index was 5.78 ≥ 2, which indicates that USeNPs exhibited antiviral activity that outweighed its toxicity. Therefore, USeNPs is an active antiviral agent and warrants further study. Furthermore, the DPPH scavenging activity of such nanoparticles was moderate as the highest sample concentration (100 µg/mL) recorded 31.64 ± 0.03% DPPH scavenging activity (with IC50 = 158.02 ± 0.07 μg/mL), a percentage which does not exceed that of standard ascorbic acid.