The aim of the present study was to evaluate the functional and physicochemical characteristics of pomegranate seed protein isolate (PSPI) obtained by an isoelectric precipitation process. The extracted isolate had a desirable nutritional value as the contents of its essential amino acids (except for valine and isoleucine) exceeded those recommended by FAO/WHO for adults. The molecular weights of the protein fractions of PSPI were found to be within 15-60 kDa range. According to thermal analysis data, PSPI could be denatured at 90 °C. Surface hydrophobicity of PSPI was determined at 774 level. PSPI showed high solubility both in alkaline and acidic media with the highest solubility at pH 12 (96.6%). Solubility of PSPI at pH 7.0 was at 39.5%. Furthermore, PSPI had good oil- and water-holding capacity (3.7 and 4.3 g g-1, respectively), emulsifying and foaming properties, and in-vitro digestibility. The lowest emulsifying activity index (14.1 m2/g) and emulsion stability index (8.18%) were obtained at the isoelectric pH. Overall, PSPI as a novel protein source shows a potential for future industrial applications.