Avian blood protein (ABP), recognized as a high-value animal protein source characterized by rich amino acid profiles, has emerged as a valuable bioresource with broad cross-industrial applications. This paper outlines the nutritional characteristics of ABP and reviews how fermentation, enzymatic engineering, and heme purification techniques enhance its flavor, bioavailability, and functional activity during processing. It summarizes current industrial applications of bio-utilization technologies in the food, feed, and biomedical sectors, highlighting their economic, social, and ecological values. Additionally, the paper examines existing research limitations and gaps to predict future development trends in ABP bio-utilization. Value enhancement is further explored through innovative processing methods and novel strategies, thereby establishing a scientific foundation and offering practical guidance for advancing related industries.