BACKGROUNDPhycocyanobilin (PCB) is an open‐chain blue tetrapyrrole chromophore of C‐phycocyanin (C‐PC), a major chromoprotein derived from the cyanobacterium Arthrospira platensis having numerous health‐promoting effects. Relying on the ability of PCB to attach to the sulfhydryl group of proteins, we propose a new method for covalent attachment of PCB to bovine serum albumin (BSA) as a means of its functionalization.RESULTSTraut's reagent (TR, 2‐iminothiolane), modifying lysine residues, was used to optimize the introduction of sulfhydryl groups in BSA. A higher degree of BSA thiolation by TR induces more profound alterations of its structure, resulting in minor oligomerization and aggregation. A 50‐fold molar excess of TR was found to be the optimal, balancing thiolation level and adverse effect on protein structure. PCB was covalently attached to newly introduced sulfhydryl groups at pH 9 at 20‐fold PCB/BSA ratio. An increase in the TR/BSA molar ratio leads to increased efficiency of PCB conjugation with thiolated BSA. Compared to native BSA, BSA–PCB conjugate binds quercetin with similar affinity but has higher antioxidant activity and increased oxidative stability.CONCLUSIONSPCB‐modified BSA could serve as a stable, food‐compatible carrier of bioactive PCB, but also bind other ligands that would be protected from oxidative damage due to the high antioxidant potential of covalently bound PCB. Thiolation by TR is, at the same time, a simple method for the covalent functionalization of virtually any protein by bioactive PCB or for obtaining PCB‐based fluorescent probes. © 2024 Society of Chemical Industry.