The study examined the quality of cricket protein powder (CPP) dried using microwave-assisted spouted bed drying (MSBD) and oven drying (OD). Two types of crickets, Acheta domesticus (AD) and Gryllus bimaculatus (GB), were used. Results showed that MSBD produced CPP with higher protein and mineral content and lower fat compared to OD (p < 0.05). MSBD also enhanced functional qualities like solubility, foaming capacity, emulsion ability, water retention capacity, and digestibility. CPP treated with MSBD exhibited significantly increased phenolic content and antioxidant activity (p < 0.05). Cricket species also influenced CPP quality. MSBD-produced protein from AD had a lighter color and superior functional qualities, including solubility, foam stability, and protein digestibility. Conversely, GB-produced MSBD protein showed higher protein and calcium levels, as well as better foam capacity. The faster and more even heating of MSBD, along with its shorter drying time, helps preserve heat-sensitive nutrients and bioactive components. This explains the higher quantities of protein, minerals, phenolics, and antioxidants in MSBD samples. Overall, this study shows that MSBD is a promising way to make high-quality protein ingredient from a sustainable insect protein source that have better antioxidant properties and better functionality.