Seagrass meadows play a crucial role in marine ecosystems, providing important services such as carbon sequestration, water quality improvement, and habitat provision. Monitoring the distribution and abundance of seagrass is essential for environmental impact assessments and conservation efforts. However, the current manual methods of analyzing underwater video transects to assess seagrass coverage are time-consuming and subjective. This work explores the use of deep learning models to automate the process of seagrass detection and coverage estimation from underwater video data. A dataset of over 8,300 annotated underwater images was created, and several deep learning architectures, including ResNet, InceptionNetV3, DenseNet, and Vision Transformer, were evaluated for the task of binary classification of ``Eelgrass Present'' and ``Eelgrass Absent'' images. The results demonstrate that deep learning models, particularly the Vision Transformer, can achieve high performance in predicting eelgrass presence, with AUROC scores exceeding 0.95 on the final test dataset. The use of transfer learning and the application of the Deep WaveNet underwater image enhancement model further improved the models' capabilities. The proposed methodology allows for the efficient processing of large volumes of video data, enabling the acquisition of much more detailed information on seagrass distributions compared to current manual methods. This information is crucial for environmental impact assessments and monitoring programs, as seagrasses are important indicators of coastal ecosystem health. Overall, this project demonstrates the value that deep learning can bring to the field of marine ecology and environmental monitoring.