After orange processing, different by-products are generated, i.e., peels, seeds and pulps. The pulp is highly perishable, being an unstable food matrix that needs a preservation process to be stored and used again in the food production chain. Pasteurization is the technique of choice before aseptically packaging and storing under refrigerated conditions. In this study, the effect of pasteurization has been evaluated on the chemical, functional and sensorial profiles. Ash content decreased (p < 0.05) after the thermal treatment. Indeed, magnesium, calcium and zinc diminished, although copper was found to be higher (p < 0.05) in the pasteurized product. Total dietary fiber decreased (p < 0.05), but soluble dietary fiber raised (p < 0.05) due to hydrolysis caused by pasteurization. SDF:IDF ratio, hydration properties, and fat binding capacity were improved. Total soluble phenolic compounds remained similar but FRAP and DPPH scavenging activity decreased (p < 0.05) in the pasteurized by-product. Regarding the sensorial profile, pasteurization produced darkening, appearance of a cooked smell and an increase in bitterness. Therefore, pasteurization deteriorates the sensorial profile being able to change the attributes of an added-pasteurized-pulp juice; however, it is a good choice to preserve the orange pulp by-product to formulate food products different from juices or other beverages.