Being a key source of animal food, millet production has been sharply increasing over the last few years in order to cope with the dietary requirements of the ever-increasing world population. It is a splendid source of essential nutrients such as protein, carbohydrates, fat, minerals, vitamins, and also some other bioactive compounds that eventually help through multiple biological activities, including antioxidant, anti-hyperglycemic, anti-cholesterol, anti-hypertensive, anthropometric effects and regulation of gut microbiota composition. These bioactive compounds, nutrients, and functions of cereal grains can be affected by processing techniques such as decortication, soaking, malting, milling, fermentation, etc. This study discusses the nutritional and functional properties of millet-incorporated foods and their impact on health, based on around 150 articles between 2015 and 2022 from the Web of Science, Google Scholar, Food and Agriculture Organization of the United Nations (FAO), Breeding Bid Survey (BBS), and FoodData Central (USDA) databases. Analyzing literature reviews, it is evident that the incorporation of millet and its constituents into foodstuffs could be useful against undernourishment and several other health diseases. Additionally, this review provides crucial information about the beneficial features of millet, which can serve as a benchmark of guidelines for industry, consumers, researchers, and nutritionists.