AbstractThree products were prepared from the Nigerian red skin groundnuts; undefatted flour (UGF), hexane‐extracted defatted flour (DGF), and a protein concentrate made by isoelectric centrifuging (GPC). Their functional properties were examined and compared with those of egg white powder and yolk to characterise their potential use in food preparations. The GPC performed better in functional properties than DGF and UGF. Emulsification capacity was higher than that of UGF and DGF but comparable to that of egg yolk. A 5% dispersion whipped better than egg white powder and produced more stable foams over a 3‐h period. Both water and fat absorption capacities were better and a 10% aqueous dispersion of the GPC was more viscous than similar dispersions of DGF and UGF respectively. Least gelation concentrations were 5, 3 and 4% for GPC, DGF and UGF. The high emulsification capacity, water and fat absorption capacities suggest that the GPC could be used in processed meat products, confections and beverages while the good whipping properties point to its potential use in products like meringue, bread and hot cakes.