In the biocontrol of harmful algal blooms, there has been considerable interest about the role of algicidal bacteria in algicidal activity. In this experiment, two novel algicidal bacteria (strains NP23 and AM11) against Chlorella pyrenoidosa were isolated from the Baiguishan reservoir in China. Phylogenetic analysis based on 16S rRNA gene sequences revealed that strains NP23 and AM11 belonged to Enterobacter cloacae and Gibberella moniliformis, respectively. To further understand the algicidal activities, five parameters including the chlorophyll a content, cell survival rate, superoxide dismutase (SOD) peroxide dismutase (POD), and catalase (CAT) were tested in the C. pyrenoidosa cells after inoculation with the algicidal bacteria Enterobacter cloacae NP23 and Gibberella moniliformis AM11. As a result, the growth of the treated C. pyrenoidosa was significantly restrained with a great decline of chlorophyll a content. Meanwhile, three antioxidase activities of the treated C. pyrenoidosa were initially stimulated from day 1 to day 3 but then dramatically inhibited at low level. These results induced that the oxidative imbalance (i.e., inhibition of antioxidase activities) caused by algicidal bacteria could be the killing agent of the C. pyrenoidosa cells.