An alkalophilic and moderately halophilic actinomycetes strain was isolated from marine sediments samples collected at the Marakkanam coast of Bay of Bengal, Tamil Nadu, India. The actinomycetes isolates were screened for hemolytic and antimicrobial activity. The taxonomic position of the potential isolate was evaluated by molecular taxonomic approach. The media, culturing conditions and requirements of NaCl, carbon source, nitrogen source, pH and temperature dependence were optimized under shake flask conditions. The strain was identified as a member of the genus Streptomyces and designated as Streptomyces VITSVK5 spp. The isolated strain was identified as a Gram positive, non-acid fast, non-motile, aerobic actinomycetes and alkalophilic in nature. The aerial and substrate mycelium were branched and spores were turned from white to grey in colour. The growth of Streptomyces VITSVK5 spp. was maximal at 30°C, pH 9.4 with 9 % NaCl in optimized medium. The n-butanolic extract of the isolate showed moderate antimicrobial activity against tested human pathogens with a MIC value of 80μg/ml against Aspergillus niger and also showed hemolytic activity on human erythrocytes with the EC50 value of 198μg/ml. The results of this study showed that the isolate belonged to the genus Streptomyces, alkalophilic in nature and possess moderate antimicrobial activity. © 2013 by Nova Science Publishers, Inc. All rights reserved.