Quinoa is a highly nutritious pseudo-cereal with reported health promotion effect. The aim of the present research ‎was to prepare functional foods from two quinoa varieties [Chenopodium quinoa Willd cv. Quinoa 1 (Q1) and ‎Chenopodium quinoa Willd cv. Hualhuas (QH)] and to evaluate their protein efficiency ratio and the anti-dyslipidemic ‎effect. Crackers and talbina were prepared from Q1 and QH and subjected to sensory, chemical and physical evaluations. ‎Protein efficiency ratio of the functional foods and quinoa varieties were assessed in rats. The potential protection from ‎dyslipidemia by the functional foods and quinoa varieties were evaluated in triton X-100 induced dyslipidemic rat model. ‎The percentages of protein in quinoa varieties were in the range of 16.45 to 18.96, while it varied in food products from ‎‎14.76 to 22.89. Glutamic acid was the dominant amino acid in QH and food products while alanine was the dominant in Q1. ‎Concerning sensory attributes, cracker and talbina made from Q1 were more acceptable than those prepared from QH. ‎Protein efficiency ratios of Q1 and QH were 1.8 and 1.67, respectively while that of the food products ranged from 1.07 to ‎‎1.78 compared to casein (2.4). The two quinoa varieties and the food products produced significant protection from ‎dyslipidemia. QH was superior in reducing cardiovascular disease risk. It could be concluded that protein efficiency ratios ‎of quinoa varieties and their products showed appreciable levels compared to casein. The two quinoa varieties and their ‎products produced significant protection from dyslipidemia, QH was superior.‎