The high prevalence of chronic illnesses, including cancer, diabetes, obesity, and cardiovascular diseases has become a growing concern for modern society. Recently, various bioactive compounds (bioactives) are shown to have a diversity of health-beneficial impacts on a wide range of disorders. But the application of these bioactives in food and pharmaceutical formulations is limited due to their poor water solubility and low bioaccessibility/bioavailability. Plant proteins are green alternatives for designing biopolymeric nanoparticles as appropriate nanocarriers thanks to their amphiphilic nature compatible with many bioactives and unique functional properties. Recently, emerging plant proteins (EPPs) are employed as nanocarriers for protection and targeted delivery of bioactives and also improving their stability and shelf-life. EPPs could enhance the solubility, stability, and bioavailability of bioactives by different types of delivery systems. In addition, the use of EPPs in combination with other biopolymers like polysaccharides was found to make a favorable wall material for food bioactives. This review article covers the various sources and importance of EPPs along with different encapsulation techniques of bioactives. Characterization of EPPs for encapsulation is also investigated. Furthermore, the focus is on the application of EPPs as nanocarriers for food bioactives.