Nowadays, it is urgent to produce in larger quantities and more sustainably to reduce the gap between food supply and demand. In a circular bioeconomy vision, insects receive great attention as a sustainable alternative to satisfy food and nutritional needs. Among all insects, Tenebrio molitor (TM) is the first insect approved by the European Food Safety Authority as a novel food in specific conditions and uses, testifying its growing relevance and potential. This review holistically presents the possible role of TM in the sustainable and circular solution to the growing needs for food and nutrients. We analyze all high value-added products obtained from TM (powders and extracts, oils and fatty acids, proteins and peptides, and chitin and chitosan), their recovery processes (evaluating the best ones in technical and environmental terms), their nutritional and economical values, and their biological effects. Safety aspects are also mentioned. TM potential is undoubted, but some aspects still need to be discussed, including the health effects of substances and microorganisms in its body, the optimal production conditions (that affect product quality and safety), and TM capacity to convert by-products into new products. Environmental, economic, social, and market feasibility studies are also required to analyze the new value chains. Finally, to unlock the enormous potential of edible insects as a source of nutritious and sustainable food, it will be necessary to overcome the cultural, psychological, and regulatory barriers still present in Western countries.

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