Black currant (Ribes nigrum L.) is one of the most popular berries in Russia. Its biochemical properties make it part of a healthy diet. This review describes the role of black currant and its by-products in the food industry and defines its nutritional value, i.e., vitamin C, anthocyanins, and dietary fiber. It covered original Russian and English research articles and reviews published in 2015-2023 and indexed in the Russian Research Citation Index or Pubmed databases. The keywords were black currant in Russian and English. Black currant berries are rich in dietary fiber, polyphenolic compounds, anthocyanins, vitamin C, and potassium. They cover human needs for these nutrients. Added to fermented dairy and grain foods at 5-20%, fresh or processed berries fortify them with dietary fiber, vitamin C, and anthocyanins while reducing energy value. As ingredients with color, taste, and aromatic compounds, black currant berries and their secondary products can be introduced into the formulations of various alcoholic beverages. Berry pomace is a technologically functional ingredient with a moisture-retaining ability that increases the antioxidant capacity of the final product. Juice and aqueous extracts of black currant pomace are used as picklers for fish and meat products to increase their microbiological safety and shelf-life. Complex processing of black currant berries is feasible as they are a valuable source of dietary fiber, vitamin C, and anthocyanins. Products of their processing provide a concentrate of dietary fiber with natural antioxidants. However, functional foods as sources of biologically active substances need to follow special criteria for fortified products. Black currant and its by-products are a potential source of valuable biologically active substances. In small quantities, they can expand the range of food products but fail to satisfy human diet with biologically active substances or reduce the overall energy value.