Spirulina platensis has considerable potential as a functional fish-feed ingredient because of its high protein content, natural pigments, and bioactive compounds. However, cultivation conditions must be optimized to produce biomass with stable growth, filament integrity, and biochemical quality. This study evaluated the effects of carrageenan concentration in culture media on the physical characteristics, biomass growth, filament morphology, and biochemical composition of S. platensis. A laboratory experiment was conducted using a Completely Randomized Design comprising four carrageenan treatments: 0.00%, 0.05%, 0.10%, and 0.15%, with three independent replications. The measured parameters included pH, temperature, viscosity, biomass density, dry biomass, specific growth rate, biomass productivity, filament length, fragmentation percentage, crude protein, phycocyanin, chlorophyll, and moisture content. Data were analyzed using one-way analysis of variance followed by Duncan’s multiple range test. Carrageenan significantly increased medium viscosity without substantially changing pH or temperature. The 0.10% treatment produced the highest biomass density, dry biomass, specific growth rate, and biomass productivity. It also generated the longest filaments, lowest fragmentation percentage, and highest protein, phycocyanin, and chlorophyll contents. Conversely, the 0.15% treatment reduced growth, filament integrity, and biochemical quality, indicating that excessive viscosity may restrict light penetration, aeration, mixing, and nutrient transfer. The findings demonstrate that 0.10% carrageenan provides the most favorable cultivation conditions among the tested concentrations. This concentration can be considered for producing high-quality S. platensis biomass, although direct feeding trials are required to confirm its digestibility, biological effectiveness, and economic feasibility in aquaculture.