The vibrational modes in SrRuO easily induce octahedral rotations without tilting. Being on the verge of a magnetic instability, such propensity of octahedral rotation may also produce magnetic fluctuations. In this work, we analyze the long-range magnetic phase diagram incorporating such octahedral rotations and demonstrate the possibility of an altermagnetic phase in SrRuO. Using ab-initio calculations, we first study single layer SrRuO with octahedral rotations, obtaining an orbital-selective -wave altermagnetic phase. We further provide an effective tight-binding model, demonstrating that the -wave altermagnetism is primarily a product of second and third nearest neighbor interorbital hybridizations between the () orbitals, but only a much longer range intraorbital hybridization in the orbitals, establishing a strong orbital-selectiveness for the altermagnetism. Notably, by replacing the orbital with the orbital, a similar tight-biding model may be used to investigate the hole-doped cuprate superconductors. We then study bulk SrRuO, where we find the altermagnetic phase as the magnetic ground state for a range of finite octahedral rotations. In the bulk, interlayer hopping breaks some of the symmetries of the -wave altermagnet, resulting in a -wave altermagnet, still with orbital selectiveness. We also include relativistic effects through spin-orbit coupling and obtain that an effective staggered Dzyaloshinskii-Moriya interaction generates weak ferromagnetism. Finally, we discuss the implications of the altermagnetic order on the intrinsic superconductivity of SrRuO. Assuming in-plane and intraorbital pairing, the altermagnetism favors spin-singlet -wave or -wave pairing, or (nematic or chiral) combinations thereof.

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