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Many different answers can be given to this question. However, I can say that it is the most important organism for phytoplankton, microscopic creatures living in the oceans. Because phytoplankton produce 50-85% of the oxygen we breathe in the atmosphere. Estimates are based on the oxygen produced by a single phytoplankton in the lab. However, scientists cannot give an exact rate since how much phytoplankton lives in the oceans and the number of phytoplankton varies according to the seasons.
On the other hand, Science Times declared "bees" the most important living beings on this planet. You can read more on their website.