Food products industry generates many undesired waste materials. Proper use of these by-products may minimize problems with waste disposal and act as a possible new source of fats and proteins for food and feed use. Peels, and seeds resulted from fruit and vegetable manufacturing are effectively utilized as a promising source of many phytochemicals and antioxidant agents. The produced by-products are an important and vital source of many carbohydrates, minerals, organic acids, dietary fibers and phenolic compounds that have a broad spectrum of antiviral, anticancer, antimicrobial, and cardioprotective action. Hence, there is poor available information about the beneficial values and use of theses by-products , this review article is concerned about the variety of the biological activities could be exerted by these remarkable secondary metabolite rich sources.