The rising interest in sustainable and health-focused diets has led to a growing demand for meat alternatives made from novel plant-based sources. Seaweed is an abundant marine resource rich in fiber, bioactive compounds, and functional nutrients, making it a promising candidate for alternative protein development. This study aimed to develop a functional meat analog using fermented seaweed as the core ingredient. Two types of edible red seaweeds, Kappaphycus alvarezii and Gracilaria sp., were subjected to solid-state fermentation with Rhizopus oligosporus to improve their nutritional quality and reduce undesirable marine odors. The fermented biomass was incorporated into meatball prototypes using different proportions of seaweed and binding agents. The resulting products were analyzed for their physicochemical properties, texture profile (TPA), microbiological stability, and sensory attributes. Comparative analysis revealed that Kappaphycus-based formulations produced a firmer, more cohesive texture, while Gracilaria-based formulations yielded a softer texture with enhanced umami perception. Importantly, the optimized seaweed meatball achieved a protein content of approximately 18%, closely matching that of conventional meat products. Fermentation was found to significantly improve palatability by enhancing flavor and masking off-notes. Overall, this study demonstrates the feasibility of using fermented seaweed as a sustainable, protein-rich base for meat analog products, supporting the development of clean-label, minimally processed foods that align with current consumer trends.