Pigeon pea (Cajanus cajan L.) is one of the most important legume crops grown in subtropical and tropical regions with high nutritional quality. However, the consumption of pigeon pea is very limited worldwide owing to its high level of anti‐nutrients, hard texture, and unpleasant characteristic taste. The present review summarized the nutritional profile and health benefit of pigeon pea with special attention to its bioactive phytochemicals (e.g., cajanin, cajanol, and cajaninstilbene acid). Furthermore, some aspects that can help promote the application of pigeon pea in foods were highlighted from the perspectives of physical (i.e., thermal, extrusion, and ultrasound‐assisted), chemical (i.e., chemical modification and enzymatic hydrolysis), and biological treatment (i.e., sprouting and fermentation). The primary impact of physical methods was confined to the mitigation of anti‐nutrients. Chemical approaches were less explored and mainly targeted on the modification of starch and protein in pigeon pea. In contrast, the biological methods were found to decrease the level of anti‐nutritional factors, increase the production of bioactive phytochemicals, and improve the sensory properties of pigeon pea. Therefore, biological methods, especially sprouting techniques, are considered to be more promising.