In this study, arsenate (As(V)) uptake, bioaccumulation, subcellular distribution and biotransformation were assessed in the marine diatom Skeletonema costatum and dinoflagellate Amphidinium carterae cultured in dissolved inorganic phosphorus (DIP) and dissolved organic phosphorus (DOP). The results of 3-days As(V) exposure showed that As(V) was more toxic in DOP cultures than in DIP counterparts. The higher As accumulation contributed to more severe As(V) toxicity. The 4-h As(V) uptake kinetics followed Michaelis–Menten kinetics. The maximum uptake rates were higher in DOP cultures than those in DIP counterparts. After P addition, the half-saturation constants remained constant in S. costatum (2.42–3.07 μM) but decreased in A. carterae (from 10.9 to 3.8 μM) compared with that in the respective P-depleted counterparts. During long-term As(V) exposure, A. carterae accumulated more As than S. costatum. Simultaneously, As(V) was reduced and transformed into organic As species in DIP-cultured S. costatum, which was severely inhibited in their DOP counterparts. Only As(V) reduction occurred in A. carterae. Overall, this study demonstrated species-specific effects of DOP on As(V) toxicity, and thus provide a new insight into the relationship between As contamination and eutrophication on the basis of marine microalgae.