Resumen: Ichthyotoxic algal blooms cause economic losses throughout the world. However, the mechanisms and molecules proposed so far fail to explain the massiveness of these events. In this research, the allelopathic effect of two bloom-forming species (the raphidophyte Heterosigma akashiwo and dinoflagellate Alexandrium catenella) was evaluated between them and with Rhodomonas salina bioassay. Mono- and co-cultures were carried out with the aim of providing evidence of the relation between allelopathy and ichthyotoxicity. The allelopathic inhibitory effect of the A. catenella’s supernatant was significantly enhanced when supernatants were obtained from co-cultures with direct contact between these species. We could not observe any allelopathic response provoked by H. akashiwo. On the other hand, A. catenella was able to decrease the cell concentration of H. akashiwo and R. salina. Besides, allelopathy and ichthyotoxicity were found for A. catenella’s supernant, being the allelopathic effect not related to saxitoxin. These results reinforce the hypothesis that the allelopathic effect being regulated by the presence of other microalgae and could be responsible for ichthyotoxicity.