Octopus wastes as ink and skins are good sources for the preparation of melanin pigment and gelatin, respectively. Therefore, experiments into making more efficient use of underutilized resources, melanin pigments powder and gelatin were extracted from these octopus wastes. The isolated melanin from the ink sac was purified and gross chemical composition, mineral content, total phenolic content, amino acid content, protein pattern, Uv-vis spectra, microbiological examination and antioxidant activity were determined. Protein, ash, fat and total phenolic were 36.59%, 8.90%, 0.08% and 218.06mg/kg. Magnesium and copper were 116.53 and 15.15 mg/100g, respectively. Serine content (56.4%), antioxidant activity was 46.40% and the powder was free from salmonella spp/25g. Melanin powder was added to colorize pasta and olive paste, the results of the sensory evaluation indicated that pasta and olive paste cooked in 1% melanin powder was highly accepted by panelists. Gelatin was extracted from octopus skin by five different treatments namely: acid, alkali, lime, direct extraction, combined, and the yield was 1.76 %, 10.32%, 1.43%, 1.12% and 6.85%, respectively. Alkali treatment and combined treatment gelatins in comparison with commercial bovine gelatin were characterized and evaluated by chemical composition, physicochemical properties and microbiological examination. Protein and ash contents were 85.2% and 2.09% for alkali treatment, 87.9% and 1.13% for combined treatments and 89.3% and 0.94% for bovine gelatin. The total amino acid for alkali, combined and bovine gelatins were 85222, 87351 and 90081 mg/100g respectively. Alkali and combined treatments and bovine gelatin have gel strength, viscosity, clarity and melting point of 158 bloom, 23.8cPs,126 NTU and 33.1oC; 89 bloom, 14.4 cPs, 86 NTU and 32.6oC, and 216 bloom, 28 cPs, 49 NTU and 34.3oC, respectively. Tested gelatins were free from salmonella spp/25g. Orange jelly and Rosella candy prepared from the different gelatins were acceptable by the panelists and were more or less superior in one or two attributes. In conclusion, melanin pigment powder from the octopus ink sac is successful to use as a natural black coloring agent in food products. Whereas, octopus skin can be used as a potential alternative source of gelatin.