Peanut and cowpea are two important sources of dietary protein for a large segment of world population. Improved functional and nutritional properties will increase the use of peanut and cowpea proteins in food industry. The review focuses on three major functional properties, solubility, emulsification and foamability and nutritional qualities, including protein digestibility, protein efficiency ratio, biological value, net protein utilization and protein digestibility-corrected amino acid score. Potential bioactivities of peanut and cowpea proteins are also discussed.