Ribulose bisphosphate carboxylase/oxygenase (RuBisCO), is a widely available plant protein receiving great interest because of its nutritional and functional properties. It can be a valuable source of protein for vegetarians. However, it has not received commercial significance due to the lack of a streamlined extraction process at the industrial scale, including its potential health benefits. In this review, we have summarized the literature on the biochemical characteristics of RuBisCO and compared its nutritional value with other plant proteins, as well as highlighted its digestibility, allergic traits, and potential health benefits. Moreover, the existing literature on the extraction of RuBisCO, associated challenges in industrial-scale RuBisCO purification, and recent innovations that occurred in this context are compiled. We believe this review will provide insights into RuBisCO’s nutritional value and techno-functionality. Altogether, RuBisCO can be a sustainable source of protein in the future, especially for vegetarians.