The answer to this question is 'no' for most minimal surfaces of revolution in the $3$-sphere:.
Consider surfaces in $S^3 = \{\,(z,w)\in\mathbb{C}^2\,|\,|z|^2+|w|^2=1\,\}$ that are invariant under the circle action
$$
\mathrm{e}^{i\theta}\cdot(z,w) = \bigl(\mathrm{e}^{ip\theta}\,z,\,\mathrm{e}^{iq\theta}\,w\,\bigr)
$$
where $p\ge q\ge 0$ are relatively prime integers. A The ring of polynomials invariant under this circle action is generated by $z\bar z$ and $w\bar w$ (of degree $2$) and the real and imaginary parts of $\zeta = {\bar z}^q\,w^p$ (of degree $p{+}q$). These are subject to a single relation, $\zeta\bar\zeta = (z\bar z)^q(w\bar w)^p$ of degree $2(p{+}q)$. Setting $u = z\bar z-w\bar w$, the mapping $(u,\zeta):S^3\to \mathbb{R}\times\mathbb{C}$ embeds the space of orbits in $S^3$ (where $z\bar z+ w\bar w = 1$) as the algebraic (orbifold) variety $(1{+}u)^q(1{-}u)^p-2^{p+q}\,\zeta\bar\zeta=0$.
A smooth surface in $S^3$ that is invariant under this action and that avoids the circles $z=0$ and $w=0$ can be parametrized in the form
$$
\bigl(z(\theta,s),w(\theta,s)\bigr) = \left(
\mathrm{e}^{i(p\theta-q^*\phi(s))}\left(\tfrac12(1+u(s)\right)^{1/2},\,
\mathrm{e}^{i(q\theta+p^*\phi(s))}\left(\tfrac12(1-u(s)\right)^{1/2}
\right)
$$$$
\bigl(z(\theta,s),w(\theta,s)\bigr) = \left(
\mathrm{e}^{i(p\theta-q^*\phi(s))}
\left(\tfrac12(1+u(s)\right)^{1/2},
\,
\mathrm{e}^{i(q\theta+p^*\phi(s))}
\left(\tfrac12(1-u(s)\right)^{1/2}
\right)
$$
for some functions $\phi(s)$, defined modulo $2\pi$, and $u(s)$, satisfying $|u(s)|<1$. In this formula, $q^* = q/(p^2+q^2$$q^* = q/(p^2{+}q^2)$ and $p^*=p/(p^2+q^2)$$p^*=p/(p^2{+}q^2)$.
SuchCalculation shows that such a surface can be shown to beis minimal if and only if the curve $\bigl(u(s),\phi(s)\bigr)$ is, up to reparametrization, a geodesic for the metric
$$
g = \frac{\bigl((p^2{+}q^2)+(p^2{-}q^2)u\bigr)}{2(1-u^2)}\,\mathrm{d}u^2 + (1-u^2)\,\mathrm{d}\phi^2.
$$
Moreover, the parametrized surface will be an algebraic surface if and only if $u(s)$ and $v(s) = \tan\phi(s)$ are algebraically related., since, on such a surface, we will have
$$
\zeta(s) = \mathrm{e}^{i\phi(s)}
\left(\tfrac12(1{+}u(s)\right)^{q/2}
\left(\tfrac12(1{-}u(s)\right)^{p/2}
= \frac{1{+}i\,v(s)}{\sqrt{1{+}v(s)^2}}
\left(\tfrac12(1{+}u(s)\right)^{q/2}
\left(\tfrac12(1{-}u(s)\right)^{p/2}
$$
When $p\ge q>0$, the metric $g$ is a smooth metric on an orbifold of rotation (the 'poles' of the rotation are the orbifold points, of orders $p$ and $q$ respectively), with Gauss curvature
$$
K = \frac{2p^2+2q^2+(p^2{-}q^2)\,u}{(\,p^2+q^2+(p^2{-}q^2)\,u\,)^2} > 0.
$$
(In the special case $(p,q)=(1,0)$, the singularity at the 'pole' $u=-1$ is not an orbifold point, but the metric is, of course, still smooth on the disk $u>-1$.)
Making use of the Clairaut first integral for metrics of revolution, one finds that a geodesic that does not have $\phi$ constant (and hence, does not pass through the orbifold 'poles') and does not have $u$ constant must satisfy a relation of the form
$$
\frac{m}{1-u^2}\sqrt{\frac{2\bigl((p^2{+}q^2)+(p^2{-}q^2)u\bigr)}{\bigl(1-u^2-4m^2\bigr)}}\,\mathrm{d}u -\frac{\mathrm{d}v}{1+v^2}\, = 0\tag1
$$
for some constant $m$ with $0<|m|<\tfrac12$.
Now, it is not hard to show, using Liouville's Theorem, that the first term in $(1)$ is not the differential of any elementary function of $u$ when $p^2{-}q^2>0$. (Obviously, it is such athe differential of an elementary function when $p^2{-}q^2 = 0$, but, otherwise, thisit is anthe differential of a nontrivial linear combination of incomplete elliptic integralintegrals of the third kind in Legendre's terminology.) Hence, $u$ and $v = \tan\phi$ cannot be algebraically related, since expressing $v$, even locally, as an algebraic function of $u$ would express the first term in $(1)$ as the differential of $\tan^{-1}(v)$, which would be an elementary function of $u$. (For those unfamiliar with Liouville's Theorem and the theory of integration in terms of elementary functions, these notes by Brian Conrad give a very useful and clear introduction.)
Meanwhile, the set of values of $m$ satisfying $0<|m| < \tfrac12$$0< |m| < \tfrac12$ for which the geodesic described by the above relation closes smoothly is dense in the interval $(-\tfrac12,\tfrac12)$, since the integral of the first term in $(1)$ over the interval $u^2<1{-}4m^2$ is not constant in $m$, as it is an odd function of $m$ that is not equal to zero when $m$ is not zero.
I would expect that aRemark: There may be similar argumentarguments that can be made for $S^n$ ($n> 3$$n>3$) using an appropriate symmetry reduction via a group action of cohomogeneity $2$, but not all of the induced metrics on the orbit spaces have a continuous symmetry, and hence the Clairaut integral does not always exist, which was essential in the above argument (so that an appeal could be made to Liouville's Theorem).