Bioactive peptides have antioxidant, hypoglycemic, anticancer, and immunoregulatory effects. In particular, the nutritional and health benefits and disease regulatory effects of immune-active peptides have attracted widespread attention from researchers. At present, many immunoactive peptides are applied in the research and development of new functional foods and in the clinical treatment of diseases. This article reviews the current progress in the preparation and screening, immunoregulatory effect and functional evaluation of animal-derived immune-active peptides, and discusses future research trends, aiming to provide a reference for the research, development, and application of functional products based on immunoactive peptides.