Abstract Protein‐based hydrogels have been widely used in the biomedical field since their good biocompatibility and adjustable physical properties, which are also similar to the natural extracellular matrix. However, the fragile mechanical properties and single function of protein hydrogels limited their application. Usually, chemical modification of proteins and combination with other biological materials are strategies to improve the performance of the protein hydrogels. This review first focused on the method of protein modification and then introduced the kinds of protein‐based hydrogels in detail. In addition, we summarized the applications of protein‐based hydrogels in drug delivery, wound dressing, tissue engineering, 3D printing, and biosensors. Finally, we highlighted the challenges and future prospects of protein‐based hydrogels, which may provide a reference for the design of novel multifunctional protein‐based hydrogels.