Lupins are a valuable source of protein that can partially replace traditional proteins of animal origin such as meat and bone meal and fish meal. Lupins also have been used as alternatives for soyabean meal (SBM) and other oilseed meals in some countries such as Australia and northeastern Europe where use of locally-grown lupins in pig diets is cost-effective. However, the presence of high levels of antinutritional factors (ANF), such as non-starch polysaccharides (NSP), oligosaccharides, protease inhibitors, tannins, saponins and alkaloids, have hampered progressive use of lupins in pig diets. Advances in lupin breeding programmes have contributed to the release of varieties with improved digestibility and lower ANF contents. The scope of this review is to evaluate the nutritional value of current varieties of lupins and to summarize recent nutritional concepts covering the strengths and weaknesses of lupins as ingredients in pig diets. The topics discussed will include: (1) chemical characteristics of currently available lupin species; (2) energy and amino acid availability; (3) performance and carcass composition response to lupin-based diets; (4) ANF in lupins; and (5) processing of lupins to improve nutrient digestibility.