Background: Marine actinomycetes are efficient producers of new secondary metabolites that show different biological activities, including antibacterial, antifungal, anticancer, insecticidal, and enzyme inhibition activities. Methods: The morphological, physiological, and biochemical properties of the strain Streptomyces sp. VITPSA were confirmed by conventional methods. Antibacterial, anti-oxidant, anti-inflammatory, anti-diabetic, and cytotoxic activities of Streptomyces sp. VITPSA extract were determined. The media were optimized for the production of secondary metabolites. Characterization and identification of secondary metabolites were conducted by high-performance liquid chromatography, gas chromatography-mass spectroscopy, and Fourier transform infrared spectroscopy analysis. Results: The strain showed significant antibacterial, anti-oxidant, and cytotoxic activities, moderate anti-inflammatory activity, and no satisfactory anti-diabetic activity. The ethyl acetate extract of Streptomyces sp. VITPSA showed maximum antibacterial activity against two gram-positive and gram-negative bacteria at 0.5 mg/mL. The antioxidant potential of the crude extract exhibited strong reducing power activity at 0.5 mg/mL with 95.1% inhibition. The cytotoxic effect was found to be an IC50 of 50 μg/mL on MCF-7 cell lines. Experimental design of optimization by one-factor analysis revealed the most favorable sucrose, yeast extract, pH (7.25), and temperature (28°C) conditions for the effective production of secondary metabolites. Conclusion: This study revealed that Streptomyces sp. VITPSA is an excellent source of secondary metabolites with various bioactivities. © 2017, Higher Education Press and Springer-Verlag GmbH Germany.