The production of food and feed to meet the needs of the growing world’s population will soon become a serious challenge. In search for sustainable solutions, entomophagy is being proposed as an alternative source of proteins, with economic and environmental advantages when compared to meat. Edible insects are not only a valuable source of important nutrients, but their gastrointestinal digestion also originates small peptides with important bioactive properties. The present work intends to provide an exhaustive systematic review on research articles reporting bioactive peptides identified from edible insects, as demonstrated byin silico,in vitro, and/orin vivoassays. A total of 36 studies were identified following the PRISMA methodology, gathering 211 potentially bioactive peptides with antioxidant, antihypertensive, antidiabetic, antiobesity, anti-inflammatory, hypocholesterolemia, antimicrobial, anti-severe acute respiratory syndrome coronavirus type 2 (SARS-CoV-2), antithrombotic, and immunomodulatory properties, originated from the hydrolysates of 12 different insect species. From these candidates, the bioactive properties of 62 peptides were characterized in vitro and 3 peptides were validated in vivo. Data establishing the scientific basis of the health benefits associated with the consumption of edible insects can be a valuable contribution to overcoming the cultural issues that hinder the introduction of insects in the Western diet.