Global public awareness about fish-based diet and its health/nutritional benefits is on the rise. Fish nutritional profile projects promising bioactive and other compounds with innumerable health benefits for human wellbeing. As various reported researches involving fish/marine-derived molecules reveal promising attributes, and as the position of fish-based nutrients as nutraceuticals continue to strengthen, health challenges still confront communities worldwide, from cardiovascular disease, diabetes, and obesity to hypertension. Thus, further understanding of fish-based nutrient impact as functional foods remains crucial given the diverse prevailing compositional/nutraceutical merits. In this review, therefore, we provide important information regarding bioactive compounds and therapeutics obtained from fish, specific to the context of their suitability in functional foods to enhance human health. This contribution is hereby constructed as follows: (a) fish nutraceutical/therapeutic components, (b) constituents of fish-based nutrients and their suitability in functional foods, (c) fish antioxidant/bioactive compounds to help alleviate health conditions, (d) common human ailments alleviated by fish-based nutrients, and (e) role of fish in mental health and immune system. As increased fish consumption should be encouraged, the potential of the quality proteins, omega-3 fatty acids, and other compounds inherent in fish should steadily be harnessed.