The utilization of alternative and sustainable food sources has garnered significant interest as a means to address the challenges of food security and environmental sustainability. Tenebrio molitor larvae, commonly known as mealworms, have emerged as a promising candidate in this context, as they are a rich source of nutrients and can be reared with relatively low resource input. This review article presents an in-depth analysis of the diverse range of food products developed using T. molitor larvae and the distinctive properties they bestow on these products. The review encompasses an exploration of the nutritional composition of the larvae, emphasizing their rich protein content, balanced amino acid profile, fatty acids with health benefits, vitamins, and minerals. It delves into how these attributes have been harnessed to enhance the nutritional value of a variety of food items, ranging from protein-rich snacks and energy bars to pasta, bakery goods, etc. Each of these applications is discussed with regard to how T. molitor larvae contribute to the nutritional content and sensory characteristics of the final product. Furthermore, this review sheds light on the innovative techniques and processing methods employed to incorporate T. molitor larvae into different food matrices. It addresses challenges related to taste, texture, and appearance that have been encountered and the strategies devised to overcome related problems. Overall, this comprehensive review elucidates the diverse food products that have been developed utilizing T. molitor larvae as a key ingredient. Highlighting the nutritional, sensory, and sustainability aspects of these products, this review offers valuable insights to harness the potential of this alternative protein source to meet the evolving needs of modern food systems.