The sulfated galactans (SG) of mass 16 kDa was purified from S.hypnoides through anion exchange and gel permeation chromatography. The biochemical properties of SG including carbohydrate, 3,6 anhydrogalactose, sulfate, uronic acid, moisture, ash, carbon, hydrogen, nitrogen contents were estimated. In the purified SG, the presence of major sugars such as galactose and glucose were identified through HPLC and it was further structurally characterised through FT-IR and NMR spectroscopy. Anticoagulant activity of SG was estimated as 25.36 & 2.46 IU at 25 μg/ml (aPTT & PT). SG also showed potential dose dependent antioxidant activity against free radicals such as DPPH (56.41% at 2 mg/ml), hydroxyl radicals (65.58% at 3 mg/ml) and superoxide radicals (73.12% at 0.6 mg/ml). The maximum metal chelating and total antioxidant property (76.42%, 66.81%) was exhibited at 1 mg/ml. The results indicate that the SG from red seaweed represents a good source of polysaccharide with significant anticoagulant and antioxidant properties.