Seaweeds, as marine photosynthetic organisms, are harvested by humans from the wild or through cultivation for various production purposes and to provide a range of marine ecosystem services, including nutrient removal, oxygen production, and carbon sequestration. The potential use of cultivated seaweed in mitigating carbon dioxide (CO2) has been extensively proposed in conjunction with commercial seaweed production worldwide. This study aims to assess the annual potential and benefits of cultivated seaweed in reducing and fixing anthropogenic CO2. Over the past two decades (2000–2019), global seaweed production has seen significant growth. The total output of cultivated seaweed reached 407.4 × 107 tons (t), with coastal mariculture removing 4.26 × 107 t of carbon annually and wild capture removing 2.24 × 106 t. The recalcitrant dissolved organic carbon (RDOC, 549.88–621.60 × 104 t) plays a significant role in the carbon sinks of seaweed cultivation. The substantial benefits of carbon sink resulting from the formation of RDOC from seaweed make up a considerable proportion in the calculation of carbon sequestration and sink enhancement benefits in large-scale seaweed cultivation. The sizable carbon sink base of seaweed cultivation (8631.90–9567.37 × 104 t) results in significant carbon fixation benefits. The total economic value of carbon sequestration and oxygen production was estimated at $70.36 ± 1.52 billion, with an annual average benefit of $3.52 ± 1.70 billion. Increasing the area and yield available for cultivated seaweed has the potential to enhance biomass production, carbon accumulation, and CO2 drawdown. It is crucial to emphasize the need for improved communication regarding the essential criteria for the feasibility of CO2 removal (CDR), with a focus on conducting life cycle assessments (LCA) when utilizing marine processes in the present and future work. The sustainable development of the seaweed cultivation industry not only ensures that Asian-Pacific countries remain leaders in this field but also provides an effective yet overlooked solution to excessive CO2 emissions worldwide.