In response to population growth, environmental concerns, and global climate changes, there is a growing interest to use emerging proteins, that is, proteins from insect and seaweed, and underutilized agricultural/industrial by-products/waste, such as oilseed meal/cake (hemp, olive, flaxseed, rapeseed, sunflower, and sesame), spent grain (brewer and distilled liquor), seed, and pomace/pit from processing of plant-based foods. Emerging proteins also represent good precursors of bioactive peptides/hydrolysates with potential health-beneficial effects against cardiovascular diseases (including hypertension, type-2 diabetes, and obesity), cancers, and neurodegenerative diseases. Herein, this review reviews the origin, preparation, characterization, and health-beneficial properties of bioactive peptides (including protein hydrolysates) from emerging protein sources, as well as their potential uses and limitations as functional foods ingredients, dietary supplements, and nutraceuticals. All rights reserved, Elsevier.