The need for a balanced diet and population growth have spurred the hunt for new sources of protein. The need for natural resources can frequently be met by employing techniques to repurpose industrial waste and byproducts produced by various food industry sectors. Using pumpkin seeds as a byproduct is another way to get protein. Research has indicated that the pumpkin seed protein aqueous solubility is limited, particularly when the pH is near neutrality. Enzymatic hydrolysis enhanced this technical capability in this way and generated peptides that may have biological effects. Moreover, new methods will likely be used in the future to improve the pumpkin seed protein solubility, either by themselves or in conjunction with enzymatic hydrolysis. Studies on the diverse applications of hydrolyzed pumpkin seed protein are still in their early stages, though. Consequently, more investigation is needed to determine the compounds’ potential for industrialization, toxicity, and allergenicity.