This study investigated the functional properties of three species of edible insects: Gryllodes sigillatus, Schistocerca gregaria, and Tenebrio molitor. The water and oil holding capacity, solubility, and foaming and emulsion properties were evaluated. The protein solubility showed minimum values at pH 5. The highest water and oil holding capacity was noticeable for the T. molitor protein preparation (3.95 g/g) and for the G. sigilltus protein preparation (3.33 g/g), respectively. The G. sigillatus protein preparation also showed the highest foaming capacity, foam stability, and emulsion activity (99.0%, 92.0%, and 72.62%, respectively), while the protein preparation from S. gregaria exhibited the highest emulsion stability (51.31%). This study has shown that whole insects and protein preparations thereof can be suitable for development of new food formulations.