Characterization of carotenoids from selected strains of Streptomyces sp. were performed in Estuarine (Oneochromis mossambicus- Etroplus maculates) and Hymavathy Pond (fresh water) sediment samples. The UV spectrum, TLC and HPLC results showed the biosynthesis of carotenoids in various strains of Streptomyces sp., clearly indicate the presence of phytoene, phytofluene, α-carotene, β-carotene and β-isonenieratene. In the microbial world, carotenoids are present in both anoxygenic and oxygenic photosynthetic bacteria, algae and in many fungi. Carotenoids are essential for organisms with oxygenic photosynthesis (Plants, algae, cyanobacteria) because of their protective role, which consists of both depleting the energy from chlorophyll and accepting it from other molecules, such as the reactive forms of oxygen. These pigments are not essential for other carotene containing microorganisms, as is the case for fungi but they are indeed very important due to their ability to act as antioxidant agents.