Despite its abundance, krill is not utilized for human consumption due to the lack of proper technology for protein recovery. The objectives of this study were to isolate krill protein concentrate (KPC) and to determine the nutritional value, health benefits, and safety of KPC for human consumption. Proximate analysis of protein recovered by isoelectric solubilzation/precipitation indicated that KPC was composed of approximately 78% protein and 8% fat (dry weight). In vivo analysis of protein quality indicated that protein digestibility corrected for amino acid score and protein efficiency ratio was equal to casein. KPC safety was indicated by the absence of differences in clinical measures of kidney function compared to casein. Fatty acid analysis of KPC showed that approximately 27% were omega-3 polyunsaturated fatty acids (ω-3 PUFAs). Based on our study, KPC appears to be a promising protein source for human consumption with the advantage of being a rich source of ω-3 PUFAs.