Marine actinomycetes are known to be rich sources of new bio active compounds. However, only a very small proportion of microbial organisms living in this environment have been isolated and even fewer successfully grown in the laboratory. To facilitate this avenue of research, there is a need for new methods to collect, isolate and identify marine microorganisms as well as new source for the isolation. The demand for new antibiotics continues to grow due to the rapid emerging of multiple antibiotic resistant pathogens causing life threatening disease cancer. Marine soil sample from different depths at two different sites were collected and all the samples were subjected for the analysis of the actinomycetes diversity. Actinomycetes were counted in five different soil depths, at two different sites of east cost. The actinomycetes counts were found maximum in the soil sample of luxuriant site than that in degrading site. The reason can be attributed to the level of nutrients available in the different marine ecosytem. Marine region is goldmine of biodiversity has been amply justified by richness of floral and faunal diversity and now also microbial diversity. This project investigation has established the rich antifungal actinomycetes diversity and promising bioactive potential of the actinomycetes isolate MNG3 of Rameswaram costal region. This study revealed that costal region of Rameswaram is a potential source for wide spectrum of antimicrobial and anticancer metabolite producing actinomycetes. Findings of the present study conclude that marine environment actinobacteria are the potential ecosystem for antagonistic actinobacteria which deserves for bioprospecting. Isolation of actinomycetes from marine sediment of Rameswaram is successfully achived. In vitro screening of the actinomycete strains for antimicrobial activity with special emphasis on anticancer activity shows positive results .and one of the most promising potential isolate was selected and with anticancer activity is completed and Characterization of the isolate by physico chmical property is also completed followed by International streptomyces project