Azolla extracts are biodegradable and non-polluting to the environment, and because of its unique composition, it was subjected to integrated bio hy;refineries for organic fertilizer and plant growth stimulants production. Here we investigate Azolla Caroliniana and its media cultures for its potential productivity and chemical composition to determine its potential as organic fertilizer. This research was conducted in the two studies at the soilless cultivation center of Isfahan University of Technology. The first study tested effects of Azolla culture media compositions on the quality and quantity of protein and amino acids of the Azolla extract. The treatments of this study were included a) IRRI2 culture media (control), b) IRRI2 culture media + 10% extra sulfur concentration, c) IRRI2 culture media + extra 20% sulfur concentration, d) IRRI2 culture media + 10% extra phosphorus concentration, e) IRRI medium was + 20% extra phosphorus concentration, f) IRRI2 + 10% sulfur + 20% phosphorus concentration and g) IRRI2 + 20% extra sulfur + 20% extra phosphorus concentrations. The second study was performed to investigate applications of the Azolla extract as a nutrient supply for bell pepper. Analysis of variance, comparison of the Azolla culture media and application of the extract in bell pepper growing media were done by completely randomized design with a one-way treatment structure using SAS 9.0 software. The results of the first study showed that the highest concentration of iron and zinc in the third generation of Azolla filiculoides were obtained from IRRI2 + 10% sulfur + 20% phosphorus culture media and also the highest concentration of zinc in the first and third generation of Azolla Caroliniana and the first generation of Azolla filiculoides were obtained from IRRI2 + 20% sulfur culture media. In the both types of Azolla the IRRI2 + 20% sulfur + 20% phosphorus culture media treatment showed the highest nitrogen concentrations per dry weight of the Azolla and increased the concentrations of acidic, alkaline, polar, aromatic and aliphatic amino acids in the Azolla tissue. The highest dry weight yield of both Azolla types was obtained from IRRI2 + 10% phosphorus treatment. The results of the second study showed that the bell pepper fruit yield (wet and dry weight) and zinc concentration of the roots have been increased by using complete Johnson's solution treatment + 5% (v/v) of Azolla extract. Also the treatment of Johnson solution containing 50% less nitrogen and iron + 5% (v/v) Azolla extract caused a significant increase in iron, zinc and nitrogen concentrations in bell pepper branch. The Johnson's solution + 10% (v/v) of Azolla extract treatment increased the concentration of iron and zinc in the fruit significantly and the Johnson's solution treatment containing less 50% nitrogen and iron + 10% (v/v) of Azolla extract increased the wet weight of the root compared to the control significantly. Key Words: Azolla filiculoides, Azolla Caroliniana , Azolla protein concentration and composition, Fe and Zn concentrations, Azolla culture medium, bell pepper, Azolla extract