Antarctic krill is rich in high-quality proteins and considered to be the largest and last potential animal protein resource on the planet. At present, Antarctic krill is mainly processed into primary products such as Antarctic krill powder and frozen Antarctic krill meat rather than high value-added products. This article systematically reviews the nutritional properties and evaluation, functional properties and modification, functional activity and mechanism of action, and safety of Antarctic krill proteins, which will hopefully provide research ideas for the deep processing and comprehensive utilization of Antarctic krill proteins.