Aquatic plants are a cheap and renewable biomass rich in bioactive and biofunctional compounds, holding valorization prospects for use in food and pharmaceuticals. Four commonly found edible aquatic plants in Bangladesh, namely red water lily (Nymphaea nouchali), white water lily (Nympheae alba), malancha (Alternanthera philoxeroides), and red seaweed (Gracilaria tenuistipitata), were compared in terms of proximate composition, bioactive compounds, antioxidant activity, mineral and heavy metal contents, and amino acid composition. The crude protein content was the highest in A. philoxeroids (26.96 %), followed by G. tenuistipitata (25.21 %), N. nouchali (25.14 %), and N. alba (23.54 %). The sequence of crude lipid content of four aquatic plants was A. philoxeroids (4.8 %) > N. nouchali (4.0 %) > G. tenuistipitata (3.4 %) > N. alba (2.4 %). The aquatic plants were rich in carbohydrates, with G. tenuistipitata having 37.02 %, significantly (P < 0.05) lower than N. alba (46.12 %), N. nouchali (45.73 %), and A. philoxeroids (42.88 %). The ash content in the studied plants varied between 14.63 % and 24.97 %. Substantial numbers of bioactive compounds were identified in these plants: 42 in N. alba, 41 in N. nouchali, 40 in A. philoxeroides, and 36 in G. tenuistipitata, as determined by GC-MS analysis. G. tenuistipitata showed the highest amount of total phenolic (121.05 ± 2.43 mg gallic acid equivalent/g) and flavonoid (128.03 ± 0.79 mg quercetin equivalent/g) content. The DPPH, hydrogen peroxide, and ferric reducing power assays showed the free radical scavenging ability increased in a dose dependent manner. These aquatic plants contained substantial amounts of minerals, namely Ca ranging from 42.05 ± 2.34 to 441.65 ± 4.67 mg/kg, K ranging from 80.15 ± 1.82 to 97.81 ± 1.74 mg/kg, and Na ranging from 41.16 ± 1.32 to 53.37 ± 1.64 mg/kg. The heavy metal contents of Cu, Ni, and Pb were 0.93 ± 0.06 to 1.25 ± 0.09 mg/kg, 0.44 ± 0.02 to 3.86 ± 0.56 mg/kg, and 0.22 ± 0.02 to 0.67 ± 0.05 mg/kg, respectively. Thirteen different amino acids were identified, with leucine, glycine, alanine, lysine, and phenylalanine dominating, and their contents varying by species. Therefore, regular consumption of these aquatic plants might be a healthy approach to addressing malnutrition and enhancing biofunctional activities.