Natural polysaccharides are essential to a wide range of fields, including medicine, food, and cosmetics, for their various physiochemical and biological properties. However, they still have adverse effects limiting their further applications. Consequently, possible structural modifications should be carried out on the polysaccharides for their valorization. Recently, polysaccharides complexed with metal ions have been reported to enhance their bioactivities. In this paper, we synthesized a new crosslinked biopolymer based on sodium alginate (AG) and carrageenan (CAR) polysaccharides. The biopolymer was then exploited to form complexes with different metal salts including MnCl2·4H2O, FeCl3·6H2O, NiCl2·6H2O, and CuCl2·2H2O. The four polymeric complexes were characterized by Fourier-transform infrared spectroscopy (FT-IR), elemental analysis, ultraviolet–visible spectroscopy (UV–Vis), magnetic susceptibility, molar conductivity methods, and thermogravimetric analysis. The X-ray crystal structure of the Mn(II) complex is tetrahedral and belongs to the monoclinic crystal system with the space group P121/n1. The Fe(III) complex is octahedral and crystal data fit with the cubic crystal system with the space group Pm-3m. The Ni(II) complex is tetrahedral and crystal data correspond to the cubic crystal arrangement with the space group Pm-3m. The data estimated for the Cu(II) polymeric complex revealed that it is tetrahedral and belongs to the cubic system with the space group Fm-3m. The antibacterial study showed significant activity of all the complexes against both Gram-positive bacteria (Staphylococcus aureusandMicrococcus luteus) and Gram-negative (Escherichia coliandSalmonella typhimurium) pathogenic strains. Similarly, the various complexes revealed an antifungal activity againstCandida albicans. The Cu(II) polymeric complex recorded a higher antimicrobial activity with an inhibitory zone reaching 4.5 cm againstStaphylococcus aureusbacteria and the best antifungal effect of 4 cm. Furthermore, higher antioxidant values of the four complexes were obtained with DPPH scavenging activity varying from 73 to 94%. The two more biologically effective complexes were then selected for the viability cell assessments and in vitro anticancer assays. The polymeric complexes revealed excellent cytocompatibility with normal human breast epithelial cells (MCF10A) and a high anticancer potential with human breast cancer cells (MCF-7) which increase significantly in a dose-dependent manner.