Foods that support human health and longevity are becoming increasingly relevant as substitutes for or adjuncts to pharmacological drugs, either through direct consumption or incorporation into designer foods fortified with health‐promoting ingredients. Date palm (Phoenix dactylifera L.) fruits, seeds, and pollen are a cornerstone of diverse food and medicine traditions. Their reported metabolic activities include anti‐inflammatory, antioxidant, antihypertensive, antihyperlipidemic, antidiabetic, antitumor, antianemia, hepatoprotective, antibacterial, and antiviral effects. Beneficial effects on gut health and vascular health, as well as effectiveness in alleviating certain dysfunctions of the reproductive system, have also been noted. The genomic diversity of this versatile tree and the diverse agroecological conditions in which it grows lead to appreciable variations in the occurrence of protective nutrients and other high‐value bioactive phytochemicals, including flavonoid and non‐flavonoid phenolics, carotenoids, phytosterols, and oxylipins, whose potential remains underutilized in the food sector. As food ingredients, date fruits and their co‐products can improve the sensory, nutritional, and nutraceutical qualities of a broad range of dietary items. Their high nutritional density can assist with the design of novel or improved products that meet the demand for healthier foods. This review summarizes the current state of evidence on the potentialities of date palm fruits and co‐products in functional food development, focusing on the nutrients and extra‐nutritional compounds of interest, their biofunctional activities, and factors that influence their abundance and bioactivity. Proofs of concept across food and beverage categories, new developments, and clinical evidence are discussed, followed by recommendations for addressing research gaps.