Chickpea protein has the unique advantages of high yield and high bioavailability, and is used in the food industry. The existing research on the modification of chickpea protein has been focused on chemical modification. In this study, high-pressure homogenization (HPH) (physical) modification was attempted to explore the effects of HPH modification on the rheological properties, thermal properties and microstructure of chickpea protein dispersion (CPD). The results demonstrated that when CPD was modified by 90 MPa pressure, the apparent viscosity was increased from 185.69 to 521.16 Pa s, the frequency dependence was the highest, the recovery rate was raised from 42.80% to 54.27% and the protein solubility was the best (0.448%). The D [3,2] of CPD was decreased from 11.43 to 0.677 μm and the D [4,3] of CPD was reduced from 28.86 to 1.89 μm after HPH modification. The denaturation temperature of the protein was 110.56 °C at 150 MPa pressure. It was also found that with increasing pressure, the surface morphology of CPD was smoother and more regular after drying. The results demonstrated that the functional properties of chickpea protein were improved by HPH modification, which provided a potential strategy for the application of chickpea protein.