Saskatoon berry [Amelanchier alnifolia (Nutt.) Nutt., Rosaceae], also known as serviceberry, is a deciduous shrub native to the northern prairies and plains of North America. Saskatoon berries are an excellent source of typical health-promoting nutrients such as fibers, minerals (manganese, calcium, potassium, magnesium, iron), and vitamins (tocopherol, pyridoxine, riboflavin, ascorbic acid, riboflavin, thiamin, pantothenic acid). Saskatoon berries are rich in health-promoting phytochemical compounds, mainly anthocyanins (cyanidin-3-galactoside, cyanidin-3-glucoside, cyanidin-3-arabinoside, and cyanidin-3-xyloside), flavonols (quercetin-3-galactoside, quercetin-3-glucoside, quercetin-3-arabinoglucoside, quercetin-3-arabinoside, quercetin-3-rutinoside, and quercetin-3-xyloside), proanthocyanidins (A- and B-type procyanidins with different degrees of polymerization), phenolic acids, and volatile components. The total fat content of saskatoon berry seed oil is 99 g/100 g of oil, of which 9.8 g/100 g is saturated fat, 31 g/100 g is monounsaturated fat, and 58 g/100 g is cis–cis polyunsaturated fat. Saskatoon berry seed oil contains approximately 10 g of phytosterols per kilogram of oil (β-sitosterol, Δ5-avenasterol, campesterol, and stigmasterol). In mature (purple) saskatoon berries, the content of cyanogenic compounds amygdalin and prunasin were found to be 42–118 mg/kg and 5–17 mg/kg of fresh weight, respectively. These compounds are confined to the seeds, which greatly slows down their absorption when saskatoon berry fruit are consumed. In summary, saskatoon berries are emerging as a functional food because they are an excellent source of minerals, fiber, and phenolic compounds such as anthocyanins and proanthocyanidins.