Microplastic (MP) pollution is a growing global concern—especially in estuarine areas that serve as natural habitats and nurseries for many marine organisms. One such marine organism is the Eastern oyster (Crassostrea virginica), which is a reef-forming keystone species in the Chesapeake Bay, the largest estuary in the United States. To understand the potential impacts of MP pollution on the estuary ecosystem, the effects of high-density polyethylene (HDPE) MPs on Eastern oyster larval survival and development were investigated. Three cohorts of larvae were exposed to HDPE MPs with a size of 10–90 µm at a 10 mg/L concentration, after 7 to 11 days of fertilization. After exposure, the number and size of oyster larvae were measured twice a week for approximately 2 weeks until larval settlement. The experiment found that there were no significant differences in the rate of survival between the control and MP-addition treatments. However, we noticed that larval development was significantly delayed with the MP treatment. The percentage of larvae that were ready to settle was 64% with the control treatment compared to 43.5% with the MP treatment. This delay in growth resulted in a delayed larval settlement, which could adversely affect the survival of the Eastern oyster due to the increased risk of predation. The current study demonstrates that MPs could be a risk to the ecology of estuaries, and plastic pollution management is needed for the preservation of these estuaries.