In eggs, there are several components: eggshell (ES), eggshell membrane (ESM), egg white (EW), and egg yolk (EY). Many modification methods exist, such as thermal treatment, high pressure, freeze−thaw cycles, ultrasonic treatment, ozonation, phosphorylation, and acylation, all aimed at improving the functional properties of EW and EY. Additionally, microorganism and enzyme modifications have proven effective in enhancing the functional properties of EW and EY. ES and ESM are unique components of eggs. The eggshell is rich in calcium carbonate, while the eggshell membrane is rich in protein. The effective utilization of ES and ESM can help promote economic income in the poultry industry and benefit the environment. Research on the modification of ES and ESM has shown that microorganisms and enzymes have the potential to improve their functional properties. After modification, egg components can be utilized in the production of egg-based and other food products for improved performance. Furthermore, enzyme modification of egg components can produce bioactive peptides, which have the potential to treat specific diseases and may even be used in the biomedical field. This review primarily focuses on the effects of microorganisms and enzymes on the modification of egg components and summarizes the roles of microbial and enzymatic modifications in this context.