Rice is a popular grain and forms part of the daily diet of people throughout the world. However, the consumption of rice and its products is sometimes limited by its high glycemic index due to its high starch content, low protein content and quality, and low bioavailability of minerals due to the presence of anti‐nutritional factors. This has partly stimulated research interest in recent times toward the use of bioprocessing techniques such as germination as cheap and natural means to improve the nutritional quality, digestibility, and health properties of cereals, including rice, to partially achieve nutrition and food security in the developing regions of the world. This review highlights the impact of germination on the nutritional quality, health‐promoting properties, and techno‐functional characteristics of germinated brown rice grains and their products. The review demonstrated that germinated rice grains and their products have improved nutritional quality and digestibility, modified functional properties, and showed antioxidant, anti‐inflammatory, anti‐diabetic, anti‐obesity, anti‐cancer, and anti‐cardiovascular activities. Germination appears to be a suitable bioprocessing method to improve the nutritional quality and bioactive constituents and modify the techno‐functional properties of rice grains for diverse food applications and improved global nutrition and food safety.