The increasing interest in edible insects, driven by projected global population growth and environmental concerns, has led to the exploration of their potential in the food sector. Edible insects are abundant in macronutrients, such as proteins, lipids and chitin, as well as micronutrients, such as minerals, vitamins and phenolic compounds. Considering their content of bioactive compounds, they offer a sustainable solution to meet future food demands while providing potential health benefits. This review identifies bioactive peptides, phenolic compounds, chitosan, and vitamins as major bioactive ingredients derived from insects. It discusses their presence in various edible insect species, their primary bioactive properties, and methods for production and isolation. Bioactive compounds sourced from edible insects exhibit antioxidant, antimicrobial, and disease-preventing properties. Insects also serve as rich sources of vitamins A, B2, B6, B12, D, and E, albeit with variations in content among species and life stages. However, the consumption of insects poses risks related to their biological and chemical contaminants, as well as their allergenicity. Managed diets in farm-bred insects ensure controlled nutrient levels, highlighting their potential as sustainable sources of bioactive compounds for human health. Adequate processing and labeling of insect-derived products can reduce the risk of insect consumption. In conclusion, the bioactive compound profile of edible insects complements their nutritional richness and highlights their potential to address future nutrition and food security.