<p>Dairy milk and human milk are not only a source of essential nutrients but also a reservoir of bioactive peptides with diverse physiological effects. These peptides are primarily generated through enzymatic hydrolysis of milk proteins, including casein and whey, during digestion, fermentation, or food processing. Accumulating evidence demonstrates that milk-derived peptides possess a broad spectrum of biological activities, including antimicrobial, immunomodulatory, antioxidant, antihypertensive, anticancer, and mineral-binding effects. Owing to these multifunctional properties, they hold significant promise in the development of functional foods and nutraceuticals. This review summarizes current knowledge on the origin, structural characteristics, mechanisms of action, and potential health applications of bioactive peptides derived from mammalian milk.</p> Graphical abstract <p></p>