Growth factors are powerful molecules that regulate cellular growth, proliferation, healing, and cellular differentiation. A delivery matrix that incorporates growth factors with high loading efficiencies, controls their release, and maintains bioactivity would be a powerful tool for regenerative medicine. Alginate has several unique properties that make it an excellent platform for the delivery of proteins. Mild gelling conditions can minimize the risk of protein denaturation; moreover, alginate can serve as protection from degradation until protein release. Various modifications have been proposed to tune alginate binding and release proteins, simultaneously adjusting alginate degradability, mechanical stiffness, swelling, gelation properties and cell affinity. The primary objective of this article is to review the literature related to recent advances in the application of alginate matrices in protein delivery in regenerative medicine. A special emphasis is put on the relevance of delivery of growth factors and chemokine.