SPME-GC-MS and PTR-ToF-MS techniques were applied to describe the content of volatile flavor compounds in a craft beer before and after adding spirulina. The obtained results showed that the volatile profile of the two beer samples differed. Furthermore, to chemically characterize biomass spirulina, a derivatization reaction followed by GC-MS analysis was performed, highlighting a high content of molecules belonging to different chemical classes, such as sugars, fatty acids and carboxylic acids. A spectrophotometric analysis of total polyphenols and tannins, investigation into the scavenging activity towards DPPH and ABTS radicals and confocal microscopy of brewer’s yeast cells were carried out. Moreover, the cytoprotective and antioxidant properties towards the oxidative damage induced by tert-butyl hydroperoxide (tBOOH) in human H69 cholangiocytes were investigated. Finally, the modulation of Nrf2 signaling under oxidative stress conditions was also evaluated. Both samples of beer were shown to contain similar levels of total polyphenols and tannins, with slightly increased levels in that containing spirulina 0.25%w/v. Moreover, the beers were found to be endowed with radical scavenging properties towards both DPPH and ABTS radicals, albeit with a weak contribution of spirulina; however, a higher riboflavin content was detected in spirulina-treated yeast cells. Conversely, the addition of spirulina (0.25%w/v) appeared to improve the cytoprotective properties of beer towards tBOOH-induced oxidative damage in H69 cells and reduce intracellular oxidative stress. Accordingly, the cytosolic Nrf2 expression was found to be increased.